Nevada Revised Statutes
Chapter 645 - Real Estate Brokers and Salespersons
NRS 645.8781 - Duties of escrow agent upon notice of claim.


1. Except as otherwise provided in this subsection, if:
(a) An escrow agent receives a notice of a claim pursuant to NRS 645.8765;
(b) A notice of claim is recorded pursuant to NRS 645.8775; or
(c) An escrow agent has actual notice of a claim specified in paragraph (b),
the escrow agent shall reserve from the owner’s net proceeds an amount that is equal to the amount claimed by the real estate broker in his or her recorded claim. If the amount of the owner’s net proceeds is insufficient to satisfy the amount of the claim, the escrow agent shall reserve the entire amount of the owner’s net proceeds. In determining whether the amount of the owner’s net proceeds is insufficient to satisfy the amount of the claim, the escrow agent may consider any encumbrance, claim or lien that has priority over the claim of the real estate broker pursuant to NRS 645.8795.
2. If the escrow agent determines that the amount of the owner’s net proceeds is insufficient to satisfy the amount of the claim, the escrow agent:
(a) Shall, within 3 days after making that determination but not later than the close of escrow, notify the real estate broker of that fact in writing; and
(b) Shall not release to the owner any portion of the owner’s net proceeds unless the escrow agent receives a copy of the written agreement executed by the owner and the real estate broker authorizing the escrow agent to release those proceeds to the owner.
3. Except as otherwise provided in paragraph (b) of subsection 2 and NRS 645.8791, if an owner’s net proceeds or any portion of an owner’s net proceeds are reserved pursuant to this section, the escrow agent who reserves those proceeds shall not release the proceeds to any person until the rights of the owner and the real estate broker are determined pursuant to NRS 645.8791.
4. A reservation of an owner’s net proceeds or any portion of an owner’s net proceeds pursuant to this section does not relieve the owner of the obligation to close escrow for the commercial real estate.
(Added to NRS by 1999, 1177)

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Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 645 - Real Estate Brokers and Salespersons

NRS 645.0005 - Definitions.

NRS 645.001 - "Administrator" defined.

NRS 645.002 - "Advance fee" defined.

NRS 645.004 - "Advance fee listing" defined.

NRS 645.0045 - Agency" defined.

NRS 645.005 - "Brokerage agreement" defined.

NRS 645.007 - "Business" defined.

NRS 645.0075 - "Business broker" defined.

NRS 645.009 - "Client" defined.

NRS 645.010 - "Commission" defined.

NRS 645.013 - "Designated property manager" defined.

NRS 645.015 - "Director" defined.

NRS 645.018 - "Owner-developer" defined.

NRS 645.019 - "Property management" defined.

NRS 645.0192 - "Property management agreement" defined.

NRS 645.0195 - "Property manager" defined.

NRS 645.020 - "Real estate" defined.

NRS 645.030 - "Real estate broker" defined.

NRS 645.035 - "Real estate broker-salesperson" defined.

NRS 645.037 - "Real Estate Division" and "Division" defined.

NRS 645.040 - "Real estate salesperson" defined.

NRS 645.042 - "Used manufactured home" or "used mobile home" defined.

NRS 645.044 - Use of terms "salesman," "saleswoman" and "salesperson" authorized.

NRS 645.0445 - Applicability of chapter.

NRS 645.045 - Administration by Real Estate Division.

NRS 645.050 - Real Estate Commission: Creation; number and appointment of members; powers and duties; regulations; service of process.

NRS 645.060 - Real Estate Commission: Limitation on consecutive service by member.

NRS 645.070 - Real Estate Commission: Oaths of members.

NRS 645.090 - Real Estate Commission: Qualifications of members.

NRS 645.100 - Real Estate Commission: Residency of members.

NRS 645.110 - Real Estate Commission: Officers.

NRS 645.120 - Administrator: Qualifications; restrictions.

NRS 645.130 - Employees, legal counsel, investigators and other professional consultants of Real Estate Division; restrictions.

NRS 645.140 - Deposit and use of money received by Division; salary of members; per diem allowance and travel expenses of members and employees of Commission.

NRS 645.142 - Technology Account for Chapter 645 of NRS.

NRS 645.145 - Real Estate Commission: Fiscal year.

NRS 645.150 - Real Estate Commission: Meetings.

NRS 645.160 - Real Estate Commission: Quorum; effect of vacancy; act of majority.

NRS 645.170 - Real Estate Division: Principal and branch offices.

NRS 645.180 - Real Estate Division: Seal; general provisions governing public inspection and confidentiality of records; admissibility of certified copies of records as evidence.

NRS 645.190 - Powers of Real Estate Division; regulations of Commission or Administrator; publication of manual or guide.

NRS 645.191 - Authority for Real Estate Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions.

NRS 645.193 - Real Estate Division required to prepare and distribute forms setting forth certain duties owed by licensees.

NRS 645.194 - Real Estate Division required to prepare booklet concerning certain disclosures required in sale of residential property.

NRS 645.195 - Inspection of records of broker and owner-developer by Real Estate Division; regulations.

NRS 645.200 - Attorney General: Opinions and action as attorney.

NRS 645.210 - Injunctions.

NRS 645.215 - Investigation by Real Estate Division of certain transactions relating to unimproved land or subdivision; injunction for fraud, deceit or false advertising.

NRS 645.230 - Unlawful to engage in certain conduct without license or permit or without complying with certain provisions of chapter; power of Real Estate Division to file complaint with court and assist in prosecution of violation; prosecution by d...

NRS 645.235 - Administrative fine for engaging in certain conduct without license, permit, certificate, registration or authorization; procedure for imposition of fine; judicial review; exceptions.

NRS 645.250 - Power of cities and towns to license and regulate brokers and salespersons not affected.

NRS 645.251 - Licensee not required to comply with certain principles of common law.

NRS 645.2515 - Broker’s price opinion: Requirements; duties of licensee; regulations.

NRS 645.252 - Duties of licensee acting as agent in real estate transaction.

NRS 645.253 - Licensees affiliated with same brokerage: Additional duties when assigned to separate parties to real estate transaction.

NRS 645.254 - Additional duties of licensee entering into brokerage agreement to represent client in real estate transaction.

NRS 645.255 - Waiver of duties of licensee prohibited.

NRS 645.256 - Broker who provides asset management services to client required to provide Real Estate Division with certain information annually; disciplinary action by Division.

NRS 645.257 - Action to recover damages suffered as result of licensee’s failure to perform certain duties; standard of care.

NRS 645.258 - Duties concerning transaction involving used manufactured home or used mobile home.

NRS 645.259 - Liability of licensee for misrepresentation made by client; failure of seller to make required disclosures is public record.

NRS 645.260 - One act constitutes action in capacity of broker or salesperson.

NRS 645.270 - Allegation and proof of licensed status in action for compensation.

NRS 645.280 - Association with or compensation of unlicensed broker, broker-salesperson or salesperson unlawful; payment of commission other than through broker or owner-developer unlawful.

NRS 645.283 - Owner-developers: Employment of licensed salespersons; association with qualified sales manager; registration.

NRS 645.285 - Owner-developers: Form and contents of application for registration.

NRS 645.287 - Owner-developers: Regulations concerning qualifications; principal place of business and records.

NRS 645.289 - Owner-developers: Qualifications and duties of person who acts as sales manager.

NRS 645.300 - Delivery of copy of written brokerage agreement; receipt.

NRS 645.310 - Deposits and trust accounts: Accounting; commingling; records; inspection and audit.

NRS 645.313 - Other financial accounts: Investigation and audit involving insolvency of broker or enforcement by Division; regulations governing scope of audit; grounds for disciplinary action.

NRS 645.314 - Administrator may charge broker for costs and fees of audit under certain circumstances; additional grounds for disciplinary action.

NRS 645.315 - Conditions and limitations on certain advertisements; required disclosures; prohibited acts; regulations.

NRS 645.320 - Requirements for exclusive agency representation.

NRS 645.3205 - Dealing with party to real estate transaction in manner which is deceitful, fraudulent or dishonest prohibited.

NRS 645.321 - Discriminatory practices unlawful; penalty.

NRS 645.322 - Accounting of use of advance fee charged or collected; Division may demand accounting.

NRS 645.323 - License required for acceptance of advance fee listing.

NRS 645.324 - Forms of brokerage agreements; reports and forms of accounting; regulations; maintenance of agreements for review and audit; grounds for disciplinary action.

NRS 645.330 - General qualifications of applicant; grounds for denial of application; eligibility for licensing as broker.

NRS 645.332 - Applicants licensed in another jurisdiction: Exemption from certain examination requirements; issuance of license as broker or broker-salesperson by reciprocity.

NRS 645.335 - Depository financial institution prohibited from being licensed.

NRS 645.343 - Educational requirements; regulations of Commission concerning standards of education.

NRS 645.345 - Regulations of Division concerning schools and courses of instruction in principles and practice of real estate; standard of instruction.

NRS 645.350 - Application: Form and contents.

NRS 645.355 - Investigation of applicant’s background; fees; fingerprints.

NRS 645.358 - Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Division. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish pro...

NRS 645.370 - Issuance of license to certain organizations doing business as broker; restrictions.

NRS 645.380 - Issuance of license as broker required for certain members and officers of certain organizations.

NRS 645.385 - Waiver of requirements of NRS 645.370 and 645.380.

NRS 645.387 - Issuance of license as broker-salesperson or salesperson to sole shareholder of corporation on behalf of corporation or to manager of limited-liability company on behalf of company; restrictions; duties; expiration.

NRS 645.400 - Additional information concerning applicants may be required by Division; regulations concerning applications.

NRS 645.410 - Regulations concerning fees for examination; time for payment of fees.

NRS 645.420 - Action on application by Division; additional investigation; invalidation of license for certain errors in issuance.

NRS 645.430 - Restrictions on reapplication after applicant denied license on ground other than failure of examination.

NRS 645.440 - Denial of application: Notice; hearing; written decision; false statement ground for denial.

NRS 645.450 - Time for examinations.

NRS 645.460 - Examination: Subjects covered; acceptance of national examination.

NRS 645.475 - Examination for license as broker may be taken before meeting requirements for experience; issuance of license as broker-salesperson upon passing examination; application and experience required for issuance of license as broker.

NRS 645.490 - Issuance of license; duty of Real Estate Division; renewal of license.

NRS 645.495 - Nonresident licensee required to authorize service of process upon Administrator.

NRS 645.510 - Authority of license limited to person or place of business licensed.

NRS 645.520 - Form and contents; limitation on association with or employment of broker-salesperson or salesperson.

NRS 645.530 - Delivery; display; maintenance in place of business.

NRS 645.550 - Broker required to maintain place of business; business required to be conducted from location designated in license; licensing of broker or owner-developer by county, city or town.

NRS 645.560 - Broker: Erection, maintenance, size and placement of signs.

NRS 645.570 - Notice of change of name, location of business or association; requirements for transfer of association; effect of failure to give notice.

NRS 645.575 - Continuing education: Standards; renewal or reinstatement of license; regulations.

NRS 645.577 - Placement of license on inactive status; reinstatement.

NRS 645.580 - Termination of association or employment of broker-salesperson or salesperson; duties of broker or owner-developer and broker-salesperson or salesperson; transfer of license or new license.

NRS 645.590 - Termination of association by broker with limited-liability company, partnership or corporation; new license.

NRS 645.600 - Inactive status for period of military service; reinstatement.

NRS 645.605 - Certificate authorizing out-of-state licensed broker to cooperate with broker in Nevada: Issuance; fee; regulations.

NRS 645.6051 - Broker required to maintain record of work performed on residential property; contents of record.

NRS 645.6052 - Permit to engage in property management: Persons eligible; requirements; instruction; expiration; renewal; regulations.

NRS 645.6054 - Permit to engage in property management: Requirements for certain organizations.

NRS 645.6055 - Designated property managers: Requirements; qualifications; duties.

NRS 645.6056 - Property management agreements: Requirements; contents.

NRS 645.6058 - Disposition of fees, penalties and fines received by Division; delegation of authority of Division to hearing officer or panel.

NRS 645.610 - Investigation of actions of licensees and other persons.

NRS 645.615 - Duty to report certain convictions and pleas to Division.

NRS 645.620 - Maintenance by Division of record of complaints, investigations and denials of applications.

NRS 645.625 - Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records.

NRS 645.630 - Authorized disciplinary action; grounds for disciplinary action; orders imposing discipline deemed public records.

NRS 645.633 - Additional grounds for disciplinary action: Improper trade practices; violations of certain orders, agreements, laws and regulations; criminal offenses; other unprofessional and improper conduct; reciprocal discipline; violations relati...

NRS 645.635 - Additional grounds for disciplinary action: Unprofessional and improper conduct relating to real estate transactions.

NRS 645.645 - Additional grounds for disciplinary action: Unprofessional and improper conduct relating to sale of insurance for home protection.

NRS 645.647 - Additional grounds for disciplinary action: Failure to pay money to Commission or Division.

NRS 645.648 - Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [Effective until 2 years after the date of the repeal of 42 U.S.C. § 666, the federal law requiring each stat...

NRS 645.660 - Knowledge of associate or employer of violation by licensee or employee; penalties.

NRS 645.670 - Effect on limited-liability company, partnership or corporation of revocation or suspension of license of manager, partner or officer; termination of suspension or reinstatement of license.

NRS 645.675 - Investigations, disciplinary or other proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license, permit or registration.

NRS 645.680 - Revocation, suspension or denial of renewal of license, permit or registration: Complaint; notice of hearing.

NRS 645.685 - Revocation, suspension or denial of renewal of license, permit or registration: Answer; limitations on time of commencing proceeding.

NRS 645.690 - Revocation, suspension or denial of renewal of license, permit or registration: Hearing; transcript.

NRS 645.700 - Power of Commission to administer oaths, certify acts and issue subpoenas; service of process.

NRS 645.710 - Fees and mileage for witness.

NRS 645.720 - Enforcement of subpoenas.

NRS 645.730 - Depositions; taking of evidence in another state; rights of party to hearing.

NRS 645.740 - Decision of Commission: Rendition; notice; effective date; stay of decision.

NRS 645.760 - Decision final when in favor of licensee; judicial review of decision against licensee.

NRS 645.770 - Restrictions on issuance of new license, permit or registration after revocation.

NRS 645.780 - Expiration of licenses; length of license periods; additional fees for electronic renewal.

NRS 645.785 - Effect of failure to renew license or permit; increased fee for late renewal.

NRS 645.830 - Fees; regulations.

NRS 645.841 - "Fund" defined.

NRS 645.842 - Creation; use; balances; interest and income.

NRS 645.843 - Payment of additional fee by licensee for augmentation of Fund.

NRS 645.844 - Recovery from Fund: Procedure; grounds; amount; hearing.

NRS 645.845 - Administrator may answer petition for recovery; effect of judgment; compromise of claim.

NRS 645.846 - Court order requiring payment from Fund.

NRS 645.847 - Automatic suspension of license upon payment from Fund; conditions for reinstatement of license.

NRS 645.848 - Distribution of payment from Fund if claims exceed maximum liability of Fund; order of payment of claims if balance of Fund insufficient; interest; use of certain money deposited in Fund.

NRS 645.8491 - Administrator subrogated to rights of judgment creditor; deposit of money recovered.

NRS 645.8492 - Waiver of rights.

NRS 645.8494 - Disciplinary action against licensee not restricted.

NRS 645.863 - Permit to engage in business as business broker: Persons eligible; requirements; continuing education; expiration; renewal; regulations.

NRS 645.865 - Permit to engage in business as business broker: Requirements for certain organizations.

NRS 645.867 - Designated business brokers: Requirements; qualifications; duties.

NRS 645.8701 - Definitions.

NRS 645.8705 - "Brokerage agreement" defined.

NRS 645.8711 - "Commercial real estate" defined.

NRS 645.8715 - "Commission" defined.

NRS 645.8721 - "Disposition" defined.

NRS 645.8725 - "Escrow" defined.

NRS 645.8731 - "Escrow agent" defined.

NRS 645.8735 - "Owner" defined.

NRS 645.8741 - "Owner’s net proceeds" defined.

NRS 645.8761 - Broker has claim upon owner’s net proceeds for earned commissions; conditions and limitations on enforcement of claim; waiver; inapplicability to third-party claims; obligation to close escrow unaffected by claim.

NRS 645.8765 - Requirements for broker to enforce claim: Written notice to owner and escrow agent; effect of failure to provide notice; exceptions.

NRS 645.8771 - Requirements for broker to enforce claim: Information required in notice; verification by oath; acknowledgment.

NRS 645.8775 - Duty of owner to confirm or deny claim; effect of confirming claim; effect of denying claim or failing to respond; recording of claim by broker.

NRS 645.8781 - Duties of escrow agent upon notice of claim.

NRS 645.8785 - Deposit of proceeds with district court; discharge of escrow agent from further liability concerning proceeds.

NRS 645.8791 - Civil action concerning claim: Issuance of order to broker to appear and show cause; effect of failure to appear; hearings; release of proceeds; frivolous claims; compensatory damages; award of costs and attorney’s fees to prevailing p...

NRS 645.8795 - Priority of recorded claim.

NRS 645.8801 - Release of recorded claim.

NRS 645.8805 - Service of notice.

NRS 645.8811 - Escrow agents: Immunity; collection of fees for services.

NRS 645.990 - Unlawful acts; penalties.

NRS 645.993 - Unlawful to file documents that are false or contain willful, material misstatement of fact; penalty.