39.420 - When interests of parties ascertained, securities must be taken in their names.
39.420 When interests of parties ascertained, securities must be taken in their names. When the parties to an action for partition agree upon their interests in the property to be partitioned or their interests have been determined by the court and the property is sold on credit which is secured by the purchasers, the security must be taken in the names of the parties entitled to the security. The security must be delivered to them upon their receipt for it. The agreement of the parties and the receipt must be returned and filed with the clerk.
[1911 CPA § 626; RL § 5568; NCL § 9115]—(NRS A 1985, 774)