Bill Approved by Nevada Legislators to Change Probate Law, Protect Heirs
LAS VEGAS, NV – Legislators in Nevada have approved a bill that, if signed into law by Governor Joe Lombardo, will institute changes to the state’s probate law in order to protect heirs and prevent fraud.
The bill comes following the results of an investigation published by the Las Vegas Review-Journal that shoed the discovered a group comprised of private administrators, real estate agents, lawyers and house flippers who were making money hand-over-fist by selling properties of people who had passed away via probate cases sthat tarted without any participation on the part of the deceased’s relatives.
As a result, the members of this so-called “cottage industry” cashed in on the estates of dead people across Southern Nevada for years, with the heirs often completely shut out and not getting one red cent.
Under current Nevada law, almost anyone – regardless if they are related to the deceased or not – can manage a probate case and even sell the dead person’s property with almost no oversight from the courts. In fact, the only instance of someone not being allowed to manage a probate case in Nevada is if they are a convicted felon.
The Nevada Senate Judiciary Committee’s Chair, Melanie Scheible (D-Las Vegas), said that she was unaware of the state’s probate law issues until she read the Review-Journal’s report.
“Something is wrong here,” she recalled thinking at the time.
The new bill approved by Nevada legislators – Senate Bill 404 – changes probate law by adding additional steps that must be undertaken in order for an entity to manage a probate case or sell a dead person’s home, and also greatly narrows the scope of who is allowed to sell homes in probate cases without the approval of a judge.
SB404 was delivered to the desk of Governor Lombardo earlier this week, and he has approximately one week under Nevada’s legislative process to sign it into law.
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management