Title 9

NRS 107.020 Transfers in trust of real property to secure obligations. Transfers in trust of any estate in real property may be made after March 29, 1927, to secure the performance of an obligation or the payment of any debt. [Part 1:173:1927; A 1949, 70; 1943 NCL § 7710]

NRS 107.025 Estate for years: Encumbrance by deed of trust; foreclosure by exercise of power of sale. A deed of trust may encumber an estate for years however created, including a proprietary lease in a cooperative, unless prohibited by the instrument creating the estate, and for…

NRS 107.026 Priority of certain deeds of trust over other liens. Except as otherwise provided in NRS 104.9335, a deed of trust given to secure a loan made to purchase the real property on which the deed of trust is given has priority over all other liens created against the purch…

NRS 107.027 Lease of unit of cooperative: Ownership interest and votes in cooperative association appurtenant to proprietary lease; encumbrances. 1. The ownership interest and votes in the cooperative association entitling the unit’s owner to lease a unit in a cooperative are app…

NRS 107.028 Trustees: Qualifications; limitations on powers; appointment of new trustee; duties; immunity from liability for certain good faith errors; damages in certain civil actions. 1. Except as otherwise provided in subsection 4, the trustee under a deed of trust must be: (a…

NRS 107.029 Trustees: Declaration of nonmonetary status; objection to declaration. 1. If the trustee under a deed of trust is named in an action in which the deed of trust is the subject and the trustee has a reasonable belief that he or she has been named in the action solely in…

NRS 107.030 Adoption of covenants by reference. Every deed of trust made after March 29, 1927, may adopt by reference all or any of the following covenants, agreements, obligations, rights and remedies: 1. Covenant No. 1. That grantor agrees to pay and discharge at maturity all t…

NRS 107.040 Adoption of covenants by reference in instrument. 1. In order to adopt by reference any of the covenants, agreements, obligations, rights and remedies in NRS 107.030, it shall only be necessary to state in the deed of trust the following: “The following covenants, Nos…

NRS 107.050 Parties may enter into different or additional covenants. Nothing in NRS 107.030 and 107.040 shall prevent the parties to any deed of trust from entering into other, different or additional covenants or agreements than those set out in NRS 107.030. [5:173:1927; NCL § …

NRS 107.055 Amount must be stated in instrument. If a party to a deed of trust, executed after July 1, 1971, desires to charge an assumption fee for a change in parties, the amount of such charge must be clearly set forth in the deed of trust at the time of execution. Without lim…

NRS 107.070 Recording of assignments of beneficial interests and instruments subordinating or waiving priority of deeds of trust. The provisions of NRS 106.210 and 106.220 apply to deeds of trust as therein specified. [Part 1:120:1935; 1931 NCL § 2122.31]—(NRS A 1965, 926)

NRS 107.071 Request by grantor of deed of trust for certified copy of note, deed of trust and assignments. 1. A grantor of a deed of trust may submit a written request to the servicer of the deed of trust for a certified copy of the note, the deed of trust and all assignments of …

NRS 107.073 Marginal entries; reconveyance must be recorded if deed of trust recorded by photographic process; presentation of certificate executed by trustee or trustee’s personal representative or assignee. 1. Except as otherwise provided in subsection 2, a recorded deed of tru…

NRS 107.077 Delivery of documents by beneficiary to trustee; recording by trustee; liability for failure to deliver or record documents; requirements for release of deed of trust when reconveyance not recorded; liability for improperly recording deed of trust; criminal penalty. 1…

NRS 107.078 Partial discharge: Delivery of documents by beneficiary to trustee; recording by trustee; liability for failure to deliver or record documents; requirements for partial release of deed of trust when reconveyance not recorded; criminal penalty. 1. If a deed of trust ma…

NRS 107.079 Reconveyance when beneficiary cannot be located or refuses to execute and deliver request for reconveyance; recording of surety bond and declaration required in certain circumstances; fees; liability of trustee for reconveyance; remedy. 1. Whenever the debt or obligat…

NRS 107.080 Trustee’s power of sale: Power conferred; required notices; effect of sale; circumstances in which sale must be declared void; civil actions for noncompliance with certain requirements; duty to post; duty to record; fees. 1. Except as otherwise provided in NRS 106.210…

NRS 107.0805 Trustee’s power of sale: Requirements and conditions; contents of notarized affidavits; circumstances in which sale must be declared void. 1. In addition to the requirements set forth in NRS 107.080, 107.085 and 107.086, the power of sale for a residential foreclosur…

NRS 107.081 Time and place of sale; agent holding sale not to be purchaser. 1. All sales of property pursuant to NRS 107.080 must be made at auction to the highest bidder and must be made between the hours of 9 a.m. and 5 p.m. The agent holding the sale must not become a purchase…

NRS 107.082 Oral postponement of sale. 1. If a sale of property pursuant to NRS 107.080 is postponed by oral proclamation, the sale must be postponed to a later date at the same time and location. 2. If such a sale has been postponed by oral proclamation three times, any new sale…

NRS 107.083 Proceedings after purchaser refuses to pay amount bid. 1. If a purchaser refuses to pay the amount the purchaser bid for the property struck off at a sale pursuant to NRS 107.080, the agent may again sell the property to the highest bidder, after again giving the noti…

NRS 107.084 Penalty for removing or defacing notice of sale. It is unlawful for a person to willfully remove or deface a notice posted pursuant to subsection 4 of NRS 107.080, if done before the sale or, if the default is satisfied before the sale, before the satisfaction of the …

NRS 107.085 Restrictions on trustee’s power of sale concerning certain deeds of trust: Applicability; service of notice; scheduling of date of sale; form of notice; judicial foreclosure not prohibited; “unfair lending practice” defined. 1. With regard to a deed of trust for an es…

NRS 107.086 Additional requirements for sale of owner-occupied housing: Notice; form; petition for mediation; election to waive mediation; adoption of rules concerning mediation; applicability. 1. Except as otherwise provided in subsection 4 of NRS 107.0865, in addition to the re…

NRS 107.0865 Mediation to negotiate loan modification. 1. A mortgagor under a mortgage secured by owner-occupied housing or a grantor or the person who holds the title of record with respect to any deed of trust which concerns owner-occupied housing may initiate mediation to nego…

NRS 107.087 Notice of default and election to sell in residential foreclosure: Requirements. 1. In addition to the requirements of NRS 107.080, if the sale of property is a residential foreclosure, a copy of the notice of default and election to sell and the notice of sale must: …

NRS 107.090 Request for notice of default and sale: Recording and contents; mailing of notice; request by association; effect of request. 1. A person with an interest or any other person who is or may be held liable for any debt secured by a lien on the property desiring a copy o…

NRS 107.095 Notice of default: Mailing to guarantor or surety of debt; effect of failure to give. 1. The notice of default required by NRS 107.080 must also be sent by registered or certified mail, return receipt requested and with postage prepaid or, if authorized by the parties…

NRS 107.100 Receiver: Appointment after filing notice of breach and election to sell. 1. At any time after the filing of a notice of breach and election to sell real property under a power of sale contained in a deed of trust, the trustee or beneficiary of the deed of trust may a…

NRS 107.140 Sale in lieu of foreclosure sale: Limitations. No provision of the laws of this State may be construed to require a sale in lieu of a foreclosure sale to be an arm’s length transaction or to prohibit a sale in lieu of a foreclosure sale that is not an arm’s length tra…

NRS 107.200 Contents of statement regarding debt secured by deed of trust. Except as otherwise provided in NRS 107.230, the beneficiary of a deed of trust secured on or after October 1, 1995, shall, within 21 days after receiving a request from a person authorized to make such a …

NRS 107.210 Contents of statement of amount necessary to discharge debt secured by deed of trust. Except as otherwise provided in NRS 107.230 and 107.240, the beneficiary of a deed of trust secured on or after October 1, 1995, shall, within 21 days after receiving a request from …

NRS 107.220 Persons authorized to request statement from beneficiary; proof of identity of successor in interest. 1. A statement described in NRS 107.200 or 107.210 may be requested by: (a) The grantor of, or a successor in interest in, the property which is the subject of the de…

NRS 107.230 Proof of authorization to request statement. A beneficiary may, before mailing a statement described in NRS 107.200 or 107.210, require the person who requested the statement to prove that the person is authorized to request that statement pursuant to NRS 107.220. If …

NRS 107.240 Grounds for refusal to deliver statement. If the debt secured by a deed of trust for which a statement described in NRS 107.210 has been requested is subject to a recorded notice of default or a filed complaint commencing a judicial foreclosure, the beneficiary may re…

NRS 107.250 Reliance upon accuracy of statement and amended statement; notification of amended statement; recovery of money by beneficiary if statement is deficient. 1. A person who receives a statement pursuant to NRS 107.200 or 107.210 may rely upon the accuracy of the informat…

NRS 107.260 Copy of note or deed of trust for authorized requester. If a person who is authorized pursuant to NRS 107.220 to request a statement described in NRS 107.200 or 107.210 includes in the request for such a statement a request for a copy of the note or deed of trust, the…

NRS 107.270 Address to which request for statement must be mailed. If the beneficiary has more than one place of business, a request for a statement described in NRS 107.200 or 107.210 must be made to the address to which the periodic payments under the note are made. If no perio…

NRS 107.280 Debt to which information contained in statement is applicable. Except as otherwise provided in a statement described in NRS 107.200 or 107.210, the information contained in the statement applies only to the debt secured by the deed of trust which is payable at the ad…

NRS 107.290 Unclear request for statement deemed to be request for amount necessary to discharge debt. If a person requests a statement described in NRS 107.200 or 107.210 and it is not clear from the request which statement is requested, the request shall be deemed a request for…

NRS 107.300 Penalty for failure to deliver statement; bar to recovery of certain damages. 1. A beneficiary who willfully fails to deliver a statement requested pursuant to NRS 107.200 or 107.210 within 21 days after it is requested is liable to the person who requested the statem…

NRS 107.310 Fee for furnishing statement. The beneficiary may charge a fee of not more than $60 for each statement furnished pursuant to NRS 107.200 or 107.210. (Added to NRS by 1995, 1521)

NRS 107.311 Applicability of NRS 107.310. The provisions of NRS 107.310 do not apply to deeds of trust insured by the Federal Housing Administrator or guaranteed by the Secretary of Veterans Affairs. (Added to NRS by 1995, 1518) ADDITIONAL REQUIREMENTS FOR FORECLOSURE OF OWNER-OC…

NRS 107.400 Definitions. As used in NRS 107.400 to 107.560, inclusive, unless the context otherwise requires, the words and terms defined in NRS 107.410 to 107.450, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2013, 2185)

NRS 107.410 “Borrower” defined. “Borrower” means a natural person who is a mortgagor or grantor of a deed of trust under a residential mortgage loan. The term does not include a natural person who: 1. Has surrendered the secured property as evidenced by a letter confirming the su…

NRS 107.420 “Foreclosure prevention alternative” defined. “Foreclosure prevention alternative” means a modification of a loan secured by the most senior residential mortgage loan on the property or any other loss mitigation option. The term includes, without limitation, a sale in…