Nevada Revised Statutes 148.150 – Right of holder of lien on property to purchase it; receipt as payment pro tanto
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At a sale of real or personal property upon which there is a mortgage or lien, the holder thereof may become the purchaser, and the receipt for the amount due to the holder from the proceeds of the sale is a payment pro tanto.
Terms Used In Nevada Revised Statutes 148.150
- Lien: A claim against real or personal property in satisfaction of a debt.
- Personal property: All property that is not real property.