LegalFix
Sign In

NRS 100.050 - Order of resort to different funds.

NV Rev Stat § 100.050 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Where one has a lien upon several things, and other persons have subordinate liens upon, or interests in, some but not all of the same things, the person having the prior lien, if he or she can do so without risk of loss to himself or herself, or of injustice to other persons, must resort to the property in the following order, on the demand of any party interested:

1. To the things upon which he or she has an exclusive lien;

2. To the things which are subject to the fewest subordinate liens;

3. In like manner inversely to the number of subordinate liens upon the same thing; and

4. When several things are within one of the foregoing classes, and subject to the same number of liens, resort must be had:

(a) To the things which have not been transferred since the prior lien was created;

(b) To the things which have been so transferred without a valuable consideration; and

(c) To the things which have been so transferred for a valuable consideration in the inverse order of the transfer.

[2:32:1923; NCL § 4081]

Previous Section
NRS 100.040 - Requiring resort to different funds.
Next Section
NRS 100.060 - Agreements between principals and sureties for joint control of assets.