Nevada Revised Statutes 140.040 – Powers, duties and immunity from liability for certain claims
1. A special administrator shall:
Terms Used In Nevada Revised Statutes 140.040
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) Collect and preserve for the executor or administrator when appointed all the goods, chattels and receivables of the decedent, and all incomes, rents, issues, profits, claims and demands of the estate.
(b) Take charge and management of the real property and enter upon and preserve it from damage, waste and injury.
2. A special administrator may:
(a) For all necessary purposes, commence, maintain or defend actions and other legal proceedings as a personal representative.
(b) Without prior order of the court, sell any perishable property of the estate, as provided in NRS 148.170.
(c) Exercise such other powers as have been conferred by the order of appointment.
(d) Obtain leave of the court to borrow money or to lease or mortgage real property in the same manner as an executor or administrator.
3. A special administrator is not liable:
(a) To any creditor on any claim against the estate; or
(b) For any claim against the decedent except a claim involving wrongful death, personal injury or property damage if the estate contains no assets other than a policy of liability insurance.