NRS 115.055 Proceeds from sale of homestead only exempt from execution if reinvested in another property that is identified and taken possession of within certain periods.
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NRS 115.055 Proceeds from sale of homestead only exempt from execution if reinvested in another property that is identified and taken possession of within certain periods. Notwithstanding any other provision of law, the proceeds of $605,000 from the sale of a homestead pursuant to subsection 2 or 3 of NRS 115.050 are only exempt from execution if:
1. Such proceeds are reinvested in another property of like kind for which the declaration of a homestead will be made; and
2. The other property is:
(a)Identified not later than 45 days after the sale of the homestead; and
(b)Taken possession of not later than 180 days after the sale of the homestead.