Nevada § 164.870 - Allocation of receipts from liquidating assets to income and principal
Full text of Nevada Nevada Revised Statutes § 164.870 — Allocation of receipts from liquidating assets to income and principal, with citation guidance and answers to common questions.
§ 164.870. Allocation of receipts from liquidating assets to income and principal
1. As used in this section, “ liquidating asset ” means an asset whose value will diminish or terminate because the asset is expected
to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right and right to receive
payments during a period of more than 1 year under an arrangement that does not provide
for the payment of interest on the unpaid balance. The term does not include a payment subject to NRS 164.865 , resources subject to NRS 164.875 , timber subject to NRS 164.880 , an activity subject to NRS 164.890 , an asset subject to NRS 164.895 , or any asset for which the trustee establishes a reserve for depreciation under NRS 164.910 . 2. A trustee shall allocate to income 10 percent of the receipts from a liquidating
asset and the balance to principal.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 164.870
What does Nevada Revised Statutes § 164.870 cover?
Section 164.870 ("Allocation of receipts from liquidating assets to income and principal") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 164.870?
A common citation format is "Nevada Revised Statutes § 164.870" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 164.870 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.