1. If the district court appoints a receiver for a substandard property pursuant to NRS 268.4284 , the owner of the substandard property, and any agent or employee of the owner, shall not collect rent from any tenant, interfere with the receiver in the operation of the substandard property or encumber or transfer any interest in the substandard property. 2. Unless otherwise ordered by the district court, a receiver for a substandard property shall: (a) Take full and complete control of the substandard property. (b) Manage the substandard property and pay any expenses of the operation of the substandard property, including, without limitation, paying the taxes, insurance, utilities, general maintenance and debt secured by an interest in the substandard property. (c) Secure a cost estimate and construction plan from a licensed contractor for the repairs, rehabilitation or abatement necessary to correct the conditions cited in the order issued pursuant to NRS 268.4284 . (d) Upon securing a cost estimate and construction plan pursuant to paragraph (c) and submitting to and obtaining the authorization of the district court, enter into contracts and employ a licensed contractor as necessary to correct the conditions cited in the order issued pursuant to NRS 268.4284 . The district court may modify the cost estimate and construction plan as the court finds necessary. (e) Collect all rents and income generated by the substandard property. (f) Use all rents and income generated by the substandard property to pay for the cost of the repairs, rehabilitation or abatement determined by the district court to be necessary to correct the conditions cited in the order issued pursuant to NRS 268.4284 . (g) Borrow money to pay for the repairs, rehabilitation or abatement necessary to correct the conditions cited in the order issued pursuant to NRS 268.4284 , borrow money to pay for any relocation benefits for tenants that are authorized pursuant to NRS 268.42845 and, with district court approval, secure that debt and any money owed to the receiver for services performed pursuant to this section with a lien on the residential multifamily rental property upon which the substandard property is situated. The lien shall be recorded in the county recorders office in the county wherein the substandard property is situated. (h) To exercise any other power granted to a receiver pursuant to chapter 32 of NRS. (i) Provide any relocation benefits to a tenant that are ordered by the court pursuant to NRS 268.42845 . 3. If the district court appoints as a receiver a nonprofit organization or community development corporation, in addition to the powers and duties that are granted pursuant to subsection 2, the nonprofit organization or community development corporation may apply for grants to assist in the rehabilitation of the substandard property.
‹ Prev All Nevada sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.