1. Except as otherwise provided in NRS 143.440, 143.455, 143.465, 143.650 or 143.655, if a debtor of the decedent is unable to pay all debts, the personal representative, with the approval of the court, may give the person a discharge upon such terms as may appear to the court to be for the best interest of the estate.
2. A compromise may also be authorized by the court when it appears to be just and for the best interest of the estate.
3. The court may also authorize the personal representative, on such terms and conditions as may be approved by it, to extend or renew, or in any manner modify the terms of, any obligation owing to or running in favor of the decedent or the estate of the decedent.
4. To obtain approval or authorization the personal representative shall file a petition showing the advantage of the settlement, compromise, extension, renewal or modification. The clerk shall set the petition for hearing by the court, and the petitioner shall give notice for the period and in the manner required by NRS 155.010.
[198:107:1941; 1931 NCL § 9882.198]—(NRS A 1999, 2294; 2011, 1454)
Structure Nevada Revised Statutes
Chapter 143 - Powers and Duties of Personal Representatives
NRS 143.020 - Right to possession of decedent’s property.
NRS 143.037 - Duty to close estate within 18 months after appointment; exceptions.
NRS 143.040 - Rights of surviving partner.
NRS 143.060 - Extent of power to sue and be sued.
NRS 143.065 - Statute of limitations for cause of action of decedent.
NRS 143.070 - Actions by personal representative for conversion or trespass.
NRS 143.080 - Actions against personal representative for conversion or trespass.
NRS 143.090 - Action on bond of former personal representative.
NRS 143.100 - Action for conversion before letters granted.
NRS 143.140 - Discharging debtor of estate, compromising claims and renewing obligations: Procedure.
NRS 143.150 - Action to recover fraudulently conveyed property for benefit of creditors.
NRS 143.160 - Costs; disposal of property recovered; proceeds.
NRS 143.170 - Purchase of property of estate by personal representative.
NRS 143.175 - Power to make certain investments.
NRS 143.187 - Power to hold stock in name of nominee; personal liability of personal representative.
NRS 143.210 - Necessary parties to actions.
NRS 143.310 - "Court supervision" defined.
NRS 143.315 - "Full authority" defined.
NRS 143.320 - "Limited authority" defined.
NRS 143.330 - Effect of provision in will that prohibits independent administration of estate.
NRS 143.335 - Independent administration of estate by special administrator.
NRS 143.345 - Notice of hearing on petition; persons required to receive notice; contents.
NRS 143.350 - Court authorized to grant requested authority; exceptions.
NRS 143.352 - Acceptance of or refusal to accept letters of administration or letters testamentary.
NRS 143.355 - Amount of bond of personal representative.
NRS 143.370 - Court approval or supervision required for certain actions; exceptions.
NRS 143.375 - Powers of personal representative granted independent administration authority.
NRS 143.400 - Requirements for exercise of powers by personal representative.
NRS 143.405 - Sale or exchange of real property.
NRS 143.410 - Sale or incorporation of business or joint venture.
NRS 143.415 - Abandonment of tangible personal property.
NRS 143.420 - Power to borrow and to encumber property of estate.
NRS 143.425 - Grant of option to purchase real property of estate.
NRS 143.430 - Transfer of property to person exercising option to purchase provided in will.
NRS 143.435 - Conveyance or transfer of real or personal property under certain circumstances.
NRS 143.440 - Determination of claims to property.
NRS 143.450 - Preliminary distributions authorized under certain circumstances.
NRS 143.455 - Actions concerning claims by, for the benefit of, or against the estate.
NRS 143.460 - Commencement and defense of certain actions and proceedings.
NRS 143.465 - Modification of terms of obligation to or in favor of decedent.
NRS 143.500 - Exercise of powers by personal representative; exceptions.
NRS 143.505 - Management and control of estate property.
NRS 143.510 - Power to enter contracts without notice; exception.
NRS 143.515 - Deposit and investment of money of estate.
NRS 143.520 - Continuation of partnership or other business.
NRS 143.525 - Payment of family allowance.
NRS 143.530 - Lease of property of estate.
NRS 143.535 - Sale or exchange of personal property.
NRS 143.540 - Grant of exclusive right to sell property.
NRS 143.600 - Exercise of powers by personal representative.
NRS 143.605 - Additional powers of personal representative.
NRS 143.610 - Conveyance or transfer of property under certain circumstances.
NRS 143.615 - Payment of taxes, assessments and expenses.
NRS 143.620 - Purchase of annuity under certain circumstances.
NRS 143.625 - Exercise of option.
NRS 143.630 - Purchase of securities or commodities to perform incomplete contract of sale.
NRS 143.635 - Holding securities in name of nominee or in any other form for certain purposes.
NRS 143.640 - Exercise of security subscription or conversion rights.
NRS 143.645 - Repairs and improvements to property of estate.
NRS 143.650 - Acceptance of deed or deed of trust in lieu of foreclosure or trustee’s sale.
NRS 143.655 - Partial satisfaction of mortgage or partial reconveyance under deed of trust.
NRS 143.700 - Circumstances pursuant to which notice of proposed action is required or authorized.
NRS 143.705 - Persons to whom notice of proposed action is required to be given.
NRS 143.710 - Consent to proposed action.
NRS 143.720 - Revocation of consent to proposed action or waiver of notice of proposed action.
NRS 143.725 - Contents of notice of proposed action.
NRS 143.730 - Requirements for delivery of notice of proposed action.
NRS 143.800 - Letters testamentary or letters of administration.
NRS 143.805 - Notice of proposed action.