148.150 - Right of holder of lien on property to purchase it; receipt as payment pro tanto.
148.150 Right of holder of lien on property to purchase it; receipt as payment pro tanto. At a sale of real or personal property upon which there is a mortgage or lien, the holder thereof may become the purchaser, and the receipt for the amount due to the holder from the proceeds of the sale is a payment pro tanto.
[149:107:1941; 1931 NCL § 9882.149]—(NRS A 1999, 2317)