Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 361.610 - Disposition of amounts received from sale price, rents or redemption of property held in trust; no charge against county for services of officer; claims for and agreements concerning recovery of excess proceeds; authorization of person to file claim and collect property1. Out of the sale price or rents of any property of which he or she is trustee, the county treasurer shall pay the costs due any officer for the enforcement of the tax upon the parcel of property and all taxes owing thereon, and upon the redemption of any property from the county treasurer as trustee, he or she shall pay the redemption money over to any officers having fees due them from the parcels of property and pay the tax for which it was sold and pay the redemption percentage according to the proportion those fees respectively bear to the tax.2. In no case may: (a) Any service rendered by any officer under this chapter become or be allowed as a charge against the county; or(b) The sale price or rent or redemption money of any one parcel of property be appropriated to pay any cost or tax upon any other parcel of property than that so sold, rented or redeemed.3. After paying all the tax and costs upon any one parcel of property, the county treasurer shall pay into the general fund of the county, from the excess proceeds of the sale: (a) The first $300 of the excess proceeds; and(b) Ten percent of the next $10,000 of the excess proceeds.4. The amount remaining after the county treasurer has paid the amounts required by subsection 3 must be deposited in an interest-bearing account maintained for the purpose of holding excess proceeds separate from other money of the county. If no claim is made for the excess proceeds within 1 year after the deed given by the county treasurer is recorded, the county treasurer shall pay the money into the general fund of the county, and it must not thereafter be refunded to the former property owner or his or her successors in interest. All interest paid on money deposited in the account required by this subsection is the property of the county.5. If a person listed in subsection 6 makes a claim in writing for the excess proceeds within 1 year after the deed is recorded, the county treasurer shall pay the claim or the proper portion of the claim over to the person if the county treasurer is satisfied that the person is entitled to it.6. A claim for excess proceeds must be paid out in the following order of priority to: (a) The following persons in the order of priority of the liens recorded or perfected before the sale: (1) A person holding a valid lien under subsection 3 of NRS 444.520;(2) Persons specified in paragraphs (b), (c), (d), (g), (h) and (i) of subsection 4 of NRS 361.585;(3) An association, as defined in NRS 116.011, that has caused to be recorded a notice of default and election to sell the property pursuant to paragraph (b) of subsection 1 of NRS 116.31162 that has not been rescinded; and(4) An association, as defined in NRS 116B.030, or a hotel unit owner, as defined in NRS 116B.125, that has caused to be recorded a notice of default and election to sell the property pursuant to paragraph (b) of subsection 1 of NRS 116B.635 that has not been rescinded; and(b) Any person specified in paragraphs (a), (e) and (f) of subsection 4 of NRS 361.585.7. The county treasurer shall approve or deny a claim within 30 days after the period described in subsection 4 for filing a claim has expired. Any records or other documents concerning a claim shall be deemed the working papers of the county treasurer and are confidential. If more than one person files a claim, and the county treasurer is not able to determine who is entitled to the excess proceeds, the matter must be submitted to mediation.8. If the mediation is not successful, the county treasurer shall: (a) Conduct a hearing to determine who is entitled to the excess proceeds; or(b) File an action for interpleader.9. A person who is aggrieved by a determination of the county treasurer pursuant to this section may, within 90 days after the person receives notice of the determination, commence an action for judicial review of the determination in district court.10. If an association, as defined in NRS 116.011, recovers any amount of excess proceeds of a sale of a residential unit, as defined in NRS 116.332, the amount recovered by the association shall be deemed to have satisfied the debt owed by the owner of the residential unit to the association and the association may not recover in a civil action or otherwise collect any deficiency remaining due to the association from the owner.11. Any agreement to locate, deliver, recover or assist in the recovery of remaining excess proceeds of a sale which is entered into by a person listed in subsection 6 must: (b) Be signed by the person listed in subsection 6.(c) If the agreement is entered into by a natural person for assistance in the recovery of excess proceeds remaining from a sale of a residence that was occupied by that natural person as his or her primary residence at the time of the sale, not provide for a fee of more than 10 percent of the total remaining excess proceeds of the sale due that person.12. In addition to authorizing a person pursuant to an agreement described in subsection 11 to file a claim and collect from the county treasurer any property owed to the person, a person listed in subsection 6 may authorize a person pursuant to a power of attorney, assignment or any other legal instrument to file a claim and collect from the county treasurer any property owed to him or her. The county is not liable for any losses resulting from the approval of the claim if the claim is paid by the county treasurer in accordance with the provisions of the legal instrument.[53:344:1953]-(NRS A 1979, 771; 2005, 1348; 2007, 2510; 2015, 162; 2017, 1992)Amended by 2017, Ch. 331,§2, eff. 7/1/2017.Amended by 2015, Ch. 31,§29.5, eff. 7/1/2015.[53:344:1953] - (NRS A 1979, 771; 2005, 1348; 2007, 2510)