Nevada Revised Statutes 41B.410 – Person who acquires or receives forfeited property, interest or benefit without legal right or authorization
1. Except as otherwise provided in subsection 2, if a person, without legal right or authorization, acquires or receives any property, interest or benefit forfeited by a killer pursuant to the provisions of this chapter, the person is required to transfer the property, interest or benefit to the beneficiary who is entitled to it pursuant to the provisions of this chapter, or the person is liable to such beneficiary for the value of the property, interest or benefit.
Terms Used In Nevada Revised Statutes 41B.410
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. The provisions of subsection 1 do not apply to a person who:
(a) Acquired the property, interest or benefit for value and without notice; or
(b) Received the property, interest or benefit in full or partial satisfaction of a legally enforceable obligation and without notice.