A beneficiary of a nonprobate transfer takes the owner’s interest in the property at death, subject to all conveyances, assignments, contracts, setoffs, licenses, easements, liens and security interests made by the owner or to which the owner was subject during the owner’s lifetime. Subject to the limitation of subsection 2 of NRS 111.779:

1. A beneficiary of a nonprobate transfer of an account with a bank, savings and loan association, savings bank, credit union, broker or mutual fund takes the owner’s interest in the property at death, subject to all requests for payment of money issued by the owner before death, whether paid by the transferring entity before or after the death or unpaid.

2. The beneficiary is liable to the payee of an unsatisfied request for payment, to the extent that it represents an obligation that was enforceable against the owner during the owner’s lifetime. To the extent that a claim properly paid by the personal representative of the owner’s estate includes the amount of an unsatisfied request for payment to the claimant, the personal representative is subrogated to the rights of the claimant as payee.

3. Each beneficiary’s liability with respect to an unsatisfied request for payment is limited to the same proportionate share of the request for payment as the beneficiary’s proportionate share of the account under the beneficiary designation. Beneficiaries have the right of contribution among themselves with respect to requests for payment which are satisfied after the death of the owner, to the extent the requests for payment would have been enforceable by the payees.

4. In no event may a beneficiary’s liability to payees, to the owner’s estate and to other beneficiaries pursuant to this section, with respect to all requests for payment, exceed the value of the account received by the beneficiary. If a request for payment which would not have been enforceable under this section is satisfied from a beneficiary’s share of the account, the beneficiary:

(a) Is not liable to any other payee or the owner’s estate pursuant to this section for the amount so paid; and

(b) Has no right of contribution against other beneficiaries with respect to that amount.

(Added to NRS by 2011, 1433)