Title 9

NRS 106.050 Parties may enter into different or additional covenants. Nothing in NRS 106.020 to 106.040, inclusive, prevents the parties to any mortgage from entering into any other, different or additional covenants or agreements than those set out in NRS 106.020 or 106.025. [5:…

NRS 106.195 Mortgage of estate for years. Mortgages may be made upon an estate for years, however created, unless prohibited by the instrument which created such estate. (Added to NRS by 1967, 954)

NRS 106.200 Effect of recorded mortgage upon possessory claims to public lands or mining claims. A mortgage for a good and valuable consideration upon possessory claims to public lands, all buildings and improvements upon such lands, and all quartz and mining claims, acknowledged…

NRS 106.210 Recording of assignments of mortgages or beneficial interests in deeds of trust; constructive notice; effect of unrecorded assignments. 1. Any assignment of a mortgage of real property and any assignment of the beneficial interest under a deed of trust must be recorde…

NRS 106.220 Filing and recording of instruments subordinating or waiving priority of mortgages, deeds of trust or liens; constructive notice; effect of unrecorded instruments. 1. Any instrument by which any mortgage, deed of trust or lien upon real property is subordinated or wai…

NRS 106.240 Extinguishment of lien created by mortgage or deed of trust upon real property. The lien heretofore or hereafter created of any mortgage or deed of trust upon any real property, appearing of record, and not otherwise satisfied and discharged of record, shall at the ex…

NRS 106.260 Discharge and assignment: Marginal entries; discharge or release must be recorded when mortgage or lien recorded by microfilm. 1. Any mortgage or lien, that has been or may hereafter be recorded, may be discharged or assigned by an entry on the margin of the record th…

NRS 106.270 Discharge of mortgages on filing of certificates specifying satisfaction or payment. Any recorded mortgage shall also be discharged upon the record thereof by the recorder in whose custody it shall be, whenever there shall be presented to the recorder a certificate ex…

NRS 106.280 Certificates of discharge: Recording. Every certificate of discharge of a recorded mortgage, and the proof or acknowledgment thereof, must be recorded at full length, and a reference must be made to the county book containing such record in the minutes of the discharg…

NRS 106.290 Recording of discharge of mortgage by mortgagee; liability for failure to record discharge; requirements for release of mortgage when discharge not recorded; liability for improperly recording release; criminal penalty. 1. Within 21 calendar days after receiving writt…

NRS 106.295 Request by mortgagor for certified copy of note, mortgage and assignments. 1. A mortgagor may submit a written request to the servicer of the mortgage for a certified copy of the note, the mortgage and all assignments of the note and mortgage if: (a) The real property…

NRS 106.300 Definitions. As used in NRS 106.300 to 106.400, inclusive, unless the context otherwise requires, the words and terms defined in NRS 106.310 to 106.345, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1985, 725; A 1989, 492)

NRS 106.310 “Borrower” defined. “Borrower” means a mortgagor, grantor of a deed of trust or other debtor. (Added to NRS by 1985, 725)

NRS 106.320 “Future advance” defined. “Future advance” means a loan of money to a borrower pursuant to an agreement but made after the agreement is executed. (Added to NRS by 1985, 725)

NRS 106.330 “Instrument” defined. “Instrument” means a mortgage, deed of trust or other instrument encumbering real property as security for the repayment of a debt. (Added to NRS by 1985, 725)

NRS 106.340 “Lender” defined. “Lender” means a mortgagee, beneficiary of a deed of trust or other creditor holding an instrument. (Added to NRS by 1985, 725)

NRS 106.345 “Principal” defined. “Principal” means the money a lender advances to a borrower as a loan which, separately or together with other advances, is intended to be evidenced by the face amount of a note, bond or other similar document. The term does not include any intere…

NRS 106.350 Applicability. The provisions of NRS 106.300 to 106.400, inclusive, apply only to an instrument or supplement or amendment to an instrument that states clearly that it is to be governed by those provisions. (Added to NRS by 1985, 726; A 1989, 492)

NRS 106.360 Execution, enforceability, contents and amendment of instrument. 1. A borrower may execute an instrument encumbering the borrower’s real property to secure future advances from a lender within a mutually agreed maximum amount of principal. The instrument or an amendme…

NRS 106.370 Priority of lien. 1. The priority of a lien for future advances dates from the time that the instrument is recorded in the office of the county recorder of the county in which the property is located, whether or not the: (a) Future advances are obligatory or at the op…

NRS 106.380 Notice of election to terminate operation of instrument; recording of statement by lender or borrower; change of notice address by lender. 1. A borrower may at any time personally deliver or send by certified mail, return receipt requested, written notice to the lende…

NRS 106.390 Effect of notice of termination. Receipt of notice of termination by the lender does not affect the priority of any lien for any future advances previously made, obligations previously incurred or interest accrued thereon. (Added to NRS by 1985, 726)

NRS 106.400 Advances made after notice of termination. Future advances of principal made to a borrower after the receipt of the notice of termination by the lender are not secured by the instrument. The principal amount of indebtedness secured by the instrument is limited to the …

NRS 106.500 Borrower’s instruction to suspend and close equity line of credit: Form; effect. 1. Upon receipt of a written request from an authorized person to terminate an equity line of credit secured by a mortgage or deed of trust, the lender shall: (a) Terminate the borrower’s…