Right of holder of lien on property to purchase it; receipt as payment pro tanto.

  1. Law
  2. Nevada Revised Statutes
  3. Sales, Conveyances and Exchanges
  4. 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.

[149:107:1941; 1931 NCL § 9882.149] — (NRS A 1999, 2317)


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