Nevada § 39.690 - Open-market sale; sale by sealed bids or auction
Full text of Nevada Nevada Revised Statutes § 39.690 — Open-market sale; sale by sealed bids or auction, with citation guidance and answers to common questions.
§ 39.690. Open-market sale; sale by sealed bids or auction
1. If the court orders a sale of heirs property, the sale must be an open-market sale
unless the court finds that a sale by sealed bids or an auction would be more economically
advantageous and in the best interest of the cotenants as a group. 2. If the court orders an open-market sale and the parties, not later than 10 days
after the entry of the order, agree on a real estate broker licensed in this State
to offer the property for sale, the court shall appoint that broker and establish
a reasonable commission. If the parties do not agree on a broker, the court shall appoint a disinterested
real estate broker licensed in this State to offer the property for sale and shall
establish a reasonable commission. The broker shall offer the property for sale in a commercially reasonable manner
at a price not lower than the determination of value and on the terms and conditions
established by the court. 3. If the broker appointed under subsection 2 obtains within a reasonable time an
offer to purchase the property for at least the determination of value: (a) The broker shall comply with the reporting requirements set forth in NRS 39.695 ; and (b) The sale may be completed in accordance with state law other than NRS 39.600 to 39.705 , inclusive. 4. If the broker appointed under subsection 2 does not obtain within a reasonable
time an offer to purchase the property for at least the determination of value, the
court, after hearing, may: (a) Approve the highest outstanding offer, if any; (b) Redetermine the value of the property and order that the property continue to
be offered for an additional time; or (c) Order that the property be sold by sealed bids or at an auction. 5. If the court orders a sale by sealed bids or an auction, the court shall set terms
and conditions of the sale. If the court orders an auction, the auction must be conducted under the provisions
of NRS 39.010 to 39.490 , inclusive. 6. If a purchaser is entitled to a share of the proceeds of the sale, the purchaser
is entitled to a credit against the price in an amount equal to the purchaser's share
of the proceeds.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 39.690
What does Nevada Revised Statutes § 39.690 cover?
Section 39.690 ("Open-market sale; sale by sealed bids or auction") 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 § 39.690?
A common citation format is "Nevada Revised Statutes § 39.690" (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 § 39.690 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.