Detailed Answer
In Nevada, sale proceeds from a decedent’s real property typically pass through probate before distribution. The personal representative (PR) administers the estate, sells the property under court authority, and collects sale proceeds. Heirs do not directly receive sale funds until the PR obtains a court order confirming the final account and distribution. To streamline this process, heirs may sign specific authorization forms consenting to inventory, valuation, accounting, and distribution.
1. Waiver and Consent to Inventory, Appraisement and Valuation (Form C-050)
This form allows heirs to waive formal notice of the estate’s inventory and valuation and acknowledge receipt of a copy. It helps the PR avoid delay in reporting assets to the court. See NRS 147.125(link).
2. Waiver and Consent to Final Account and Distribution (Form C-054)
By signing this form, heirs consent to receive a copy of the PR’s final accounting and waive formal notice hearing requirements. This expedites court approval of distributions.
3. Receipt and Release of Property Distributed (Form C-055)
After the court approves the final account, each heir signs this receipt acknowledging the amount received from sale proceeds and releases the PR from further claims regarding those funds.
Small Estate Affidavit (if applicable)
If the entire estate value (real and personal property) does not exceed $100,000, heirs may bypass full probate. Under NRS 146.090(link), an heir can file an Affidavit for Collection of Personal Property of Small Estate. This form allows transfer of non‐realty assets and cash but generally excludes real property unless sold jointly by all heirs.
Helpful Hints
- Engage probate counsel early to prepare and file required documents.
- Verify estate valuations before signing any waiver forms.
- Ensure you receive a copy of the PR’s account before consenting to distribution.
- If uncertain about estate value, consider requesting an independent appraisal.
- Keep signed receipts for your records to confirm final distribution amounts.