LegalFix
Sign In

NRS 143.040 - Rights of surviving partner.

NV Rev Stat § 143.040 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

1. If a partnership existed between the decedent, at the time of death, and any other person, the surviving partner may continue in possession of the effects of the partnership and settle its business, but the interest of the decedent must be included in the inventory and appraised as an asset of the estate.

2. The surviving partner shall proceed to settle the affairs of the partnership without delay, and shall account to the personal representative and pay over such balance as may be, from time to time, payable to the estate of the decedent.

3. Upon the petition of the personal representative, the court may, whenever it may appear necessary, order the surviving partner to render an accounting, and in case of neglect or refusal, may, after notice, compel it by any lawful process, and the personal representative may maintain against the surviving partner any action which the decedent could have maintained.

4. Upon any sale of a partnership interest, the surviving partner may be a bidder.

[Part 195:107:1941; 1931 NCL § 9882.195] — (NRS A 1999, 2291)

Previous Section
NRS 143.037 - Duty to close estate within 18 months after appointment; exceptions.
Next Section
NRS 143.050 - Continuing business of decedent; exception; prohibition on separate compensation for continuing business.