NRS144.020. Appraisers: When appointment authorized; compensation; record of value in lieu of appraisement.

      1.  A personal representative may engage a qualified and disinterested appraiser to ascertain the fair market value, as of the decedent’s death, of any asset the value of which is subject to reasonable doubt. Different persons may be engaged to appraise different kinds of assets included in the estate.

      2.  Any such appraiser is entitled to a reasonable compensation for the appraisal and may be paid the compensation by the personal representative out of the estate at any time after completion of the appraisal.

      3.  If there is no reasonable doubt as to the value of assets, such as money, deposits in banks or credit unions, bonds, policies of life insurance, or securities for money or evidence of indebtedness, and the asset is equal in value to cash, the personal representative shall file a verified record of value in lieu of the appraisement.

      4.  If it appears beyond reasonable doubt that there will be no need to sell assets of the estate to pay the debts of the estate or expenses of administration, or to divide assets for distribution in kind to the devisees or heirs, the personal representative may petition the court for an order allowing a verified record of value to be filed in lieu of the appraisement, and the court may enter such an order with or without notice.

      [Part 99:107:1941; 1931 NCL § 9882.99]—(NRS A 1973, 419; 1975, 1769; 1999, 1458, 2298; 2001, 91)