Nevada § 40.457 - Hearing before award of deficiency judgment; appraisal of property sold
Full text of Nevada Nevada Revised Statutes § 40.457 — Hearing before award of deficiency judgment; appraisal of property sold, with citation guidance and answers to common questions.
§ 40.457. Hearing before award of deficiency judgment; appraisal of property sold
1. Before awarding a deficiency judgment under NRS 40.455 , the court shall hold a hearing and shall take evidence presented by either party
concerning the fair market value of the property sold as of the date of foreclosure
sale. Notice of such hearing shall be served upon all defendants who have appeared in
the action and against whom a deficiency judgment is sought, or upon their attorneys
of record, at least 15 days before the date set for hearing. 2. Upon application of any party made at least 10 days before the date set for the
hearing the court shall, or upon its own motion the court may, appoint an appraiser
to appraise the property sold as of the date of foreclosure sale. Such appraiser shall file with the clerk the appraisal, which is admissible in evidence. The appraiser shall take an oath that the appraiser has truly, honestly and impartially
appraised the property to the best of the appraiser's knowledge and ability. Any appraiser so appointed may be called and examined as a witness by any party
or by the court. The court shall fix a reasonable compensation for the appraiser, but the appraiser's
fee shall not exceed similar fees for similar services in the county where the encumbered
land is situated.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 40.457
What does Nevada Revised Statutes § 40.457 cover?
Section 40.457 ("Hearing before award of deficiency judgment; appraisal of property sold") 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 § 40.457?
A common citation format is "Nevada Revised Statutes § 40.457" (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 § 40.457 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.