Nevada Revised Statutes 148.290 – Sale on credit
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1. If a sale is made upon credit, the personal representative shall take the note or notes of the purchaser for the unpaid portion of the purchase money, with a mortgage on the property to secure their payment.
Terms Used In Nevada Revised Statutes 148.290
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
2. The mortgage may contain a provision for release of parts of the property if the court approves the provision.