Nevada Revised Statutes 143.415 – Abandonment of tangible personal property
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The personal representative who has limited authority or full authority has the power to abandon tangible personal property where the cost of collecting, maintaining and safeguarding the property would exceed its fair market value.
Terms Used In Nevada Revised Statutes 143.415
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Personal property: All property that is not real property.