Nevada Revised Statutes 645.8785 – Deposit of proceeds with district court; discharge of escrow agent from further liability concerning proceeds
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1. If:
Terms Used In Nevada Revised Statutes 645.8785
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- real estate: means every interest or estate in real property including but not limited to freeholds, leaseholds and interests in condominiums, town houses or planned unit developments, whether corporeal or incorporeal, and whether the real property is situated in this State or elsewhere. See Nevada Revised Statutes 645.020
(a) A notice of a claim is recorded pursuant to NRS 645.8775;
(b) An escrow agent has reserved an owner’s net proceeds or any portion of an owner’s net proceeds pursuant to NRS 645.8781; and
(c) Escrow for the disposition of the commercial real estate has closed, the escrow agent may, in accordance with the provisions of NRS 645A.177, deposit with the district court of the county where the claim is recorded the amount of the owner’s net proceeds reserved by him or her pursuant to NRS 645.8781.
2. If an escrow agent deposits an owner’s net proceeds with a district court pursuant to subsection 1, the escrow agent is discharged from any further liability concerning those proceeds.