Nevada § 318.512 - Appraisal required; selection of appraisers; sale for less than appraisal prohibited
Full text of Nevada Nevada Revised Statutes § 318.512 — Appraisal required; selection of appraisers; sale for less than appraisal prohibited, with citation guidance and answers to common questions.
§ 318.512. Appraisal required; selection of appraisers; sale for less than appraisal prohibited
Except as otherwise provided in NRS 318.1177 , 318.118 and 318.215 : 1. Before ordering any real property of the district for sale, the board of trustees
must: (a) Except as otherwise provided in this paragraph, obtain two independent appraisals
of the real property. If the board of trustees holds a public hearing on the matter of the fair market
value of the real property, one independent appraisal of the real property is sufficient
before selling the real property. The appraisal or appraisals, as applicable, must have been prepared not more than
6 months before the date on which the real property is offered for sale. (b) Select the one independent appraiser or two independent appraisers, as applicable,
from the list of appraisers established pursuant to NRS 318.5121 . (c) Verify the qualifications of each appraiser selected pursuant to paragraph (b). The determination of the board of trustees as to the qualifications of the appraiser
is conclusive. 2. The board of trustees shall not sell the property for less than: (a) If two independent appraisals were obtained pursuant to subsection 1, the average
of the appraisals of the real property. (b) If one appraisal is obtained pursuant to subsection 1, the appraised value of
the real property.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 318.512
What does Nevada Revised Statutes § 318.512 cover?
Section 318.512 ("Appraisal required; selection of appraisers; sale for less than appraisal prohibited") 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 § 318.512?
A common citation format is "Nevada Revised Statutes § 318.512" (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 § 318.512 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.