SB 382 — Revises provisions relating to real property. (BDR 9-1067)

Sec.4.wneNRS 107.030 is hereby amended to read as follows:

4.

NRS 107.030 is hereby amended to read as follows:

CCOVENANT OVENANT NO .

That grantor agrees to pay and discharge at maturity all taxes and assessments and all other charges and encumbrances which now are or shall hereafter be, or appear to be, a - *SB382_R2* – 5 – lien upon the [trust] premises, or any part thereof;

CCOVENANT OVENANTNO N. O.

That the grantor will at all times keep the buildings and improvements which are now or shall hereafter be 80th Session (2019) – 5 – erected upon the premises insured against loss or damage by fire, to the amount of at least $........, by some insurance company or companies approved by beneficiary, the policies for which insurance shall be made payable, in case of loss, to beneficiary, and shall be delivered to and held by the beneficiary as further security;

CCOVENANT OVENANTN NOO. .

That if, during the existence of the trust, there be commenced or pending any suit or action affecting the [conveyed] premises, or any part thereof, or the title thereto, or if any adverse claim for or against the premises, or any part thereof, be made or asserted, the trustee or beneficiary may appear or intervene in the suit or action and retain counsel therein and defend same, or otherwise take such action therein as they may be advised, and mayormay settle or compromise same or the adverse claim;

CCOVENANT OVENANT N O.

CCOVENANT OVENANTN NOO. .

That in case grantor shall well and truly perform the obligation or pay or cause to be paid at maturity the debt or promissory note, and all moneys agreed to be paid, and interest thereon for the security of which the transfer is made, and also the reasonable expenses of the trust in this section specified, then the trustee, its successors or assigns, shall reconvey to the grantor all the estate in the premises conveyed to the trustee by - *SB382_R2* – 6 – the grantor.

That if default be made in the performance of the obligation, or in the payment of the debt, or interest thereon, or any part thereof, or in the payment of any of the other moneys agreed to be paid, or of any interest thereon, or if any of the conditions or covenants in this section adopted by reference be violated, and if the notice of breach and election to sell, required 80th Session (2019) – 6 – by this chapter, be first recorded, then trustee, its successors or assigns, on demand by beneficiary, or assigns, shall sell the above-granted premises, or such part thereof as in its discretion it shall find necessary to sell, in order to accomplish the objects of these trusts, in the manner following, namely:

The beneficiary, obligee, creditor, or the holder or holders of the promissory note or notes secured thereby may bid and purchase at such sale.

The beneficiary may, after recording the notice of breach and election, waive or withdraw the same or any proceedings thereunder, and shall thereupon be restored to the beneficiary’s former position and have and enjoy the same rights as though such notice had not been recorded.

That the trustee, upon such sale, shall make (without warranty), execute and, after due payment made, deliver to purchaser or purchasers, his, her or their heirs or assigns, a deed or deeds of the premises so sold which shall convey to the purchaser all the title of the grantor in the [trust] premises, and shall apply the proceeds of the sale thereof in payment, firstly, of thethed shall expenses of such sale, together with the reasonable expenses of the trust, including counsel fees, in an amount equal to ................

and in payment, secondly, of the obligation or debts - *SB382_R2* – 7 – secured, and interest thereon then remaining unpaid, and the amount of all other moneys with interest thereon herein agreed or provided to be paid by grantor;

80th Session (2019) – 7 – 8.

COVENANT N O.

COVENANT NO .

8.

COVENANT NON O .

That the beneficiary or his or her assigns may, from time to time, appoint another trustee, or trustees, to execute the trust created by the deed of trust .

[or other conveyance in trust.] An instrument executed and acknowledged by the beneficiary is conclusive proof of the proper appointment of such substituted trustee.

Upon the recording of such executed and such acknowledged instrument, the new trustee or trustees shall be vested with all the title, interest, powers, duties and trusts in the premises vested in or conferred upon the original trustee.

If there be more than one trustee, either may act alone and execute the trusts upon the request of the beneficiary, and all of the trustee’s acts thereunderthereunderhe shall be deemed to be the acts of all trustees, and the recital in any conveyance executed by such sole trustee of such request shall be conclusive evidence thereof, and of the authority of such sole trustee to act.

(inserting the respective numbers) of NRS 107.030 are hereby adopted and made a part of this deed of trust.” - *SB382_R2* – 8 – 2.

2,” and set out thereafter the amount 80th Session (2019) – 8 – of insurance to be carried [.] or, if no amount is set out, the amount must be the full replacement value of the buildings and improvements which are now or shall hereafter be erected upon the premises.

107.050 Nothing in NRS 107.030 and 107.040 shall prevent the parties to any [transfer in] deed of trust from entering into other, different or additional covenants or agreements than those set out in NRSSec.NRS 107.030.

7.0.Sec.

7.

- *SB382_R2* – 9 – (1) Two times the amount of the original obligation or debt secured by the deed of trust plus any principal amounts, including, 80th Session (2019) – 9 – without limitation, advances, indicated in a recorded amendment thereto;

(a) Be signed under penalty of perjury by the trustor or the tru(b)trustor’s Statesuccessor thatin itinterest; is recorded pursuant to this section;

(b) State that it is recorded pursuant to this section;

(d) State the name of the beneficiary;

(g) Contain a statement that the declarant has mailed by certified mail, return receipt requested, to the last known address of the person to whom payments under the deed of trust were made and to the last beneficiary of record at the address indicated for such -80th *SB382_R2*Session (2019) – 10 – beneficiary on the instrument creating, assigning or conveying the deed of trust, a notice of the recording of the surety bond and declaration pursuant to this section, of the name and address of the trustee, of the beneficiary’s right to record a written objection to the reconveyance of the deed of trust pursuant to this section and of the requirement to notify the trustee in writing of any such objection;

The recording of a reconveyance pursuant to this subsection has the same effect as a reconveyance of the deed of trust pursuant to NRS liable107.077 toand anyreleases person for the executionlien and recording of astee is not reconveyance pursuant to this section if the trusteedeed actedof intrust. reliance the trustor’s successor in interest.

TheA soletrustee remedyis fornot aliable personorto damagedany byperson for the reconveyanceexecution ofand arecording deed of trusta reconveyance pursuant to this section isif anthe actiontrustee foracted damagesin againstreliance theupon trustor or the personsubstantial makingcompliance thewith declarationthis describedsection inby subsectionthe 3trustor or anthe actiontrustor’s againstsuccessor thein suretyinterest. bond.

The sole remedy for a person damaged by the reconveyance of a deed of trust pursuant to this section is an action for damages against the trustor or the person making the declaration described in subsection 3 or an action against the surety bond.

Notwithstanding any provision of chapter 120A of NRS, any amount of the balance remaining due under the obligation or debt secured by the deed of trust, including, without limitation, principal and interest, which is remitted to the issuer of the surety bond described in subsection 2 in connection with the issuance of that surety bond must, if unclaimed within 3 years after remittance, be property that is presumed 80th Session (2019) – 11 – abandoned for the purposes of chapter 120A of NRS.

From the date on which the amount is paid or delivered to the Administrator of - *SB382_R2* – 11 – Unclaimed Property pursuant to NRS 120A.570, the issuer of the surety bond is relieved of any liability to pay to the beneficiary or his or her heirs or successors in interest the amount paid or delivered to the Administrator.

(b) The current trustee of record and the current beneficiary of record cannot be located after diligent search as described in sub(c) The declaration filed pursuant to subsection 3:9;

(1)(c) InThe additiondeclaration tofiled thepursuant information required to besubsection stated3: in the record and the current beneficiary of record cannot be located aftere of diligent search;

(1) In addition to the information required to be stated in the declaration pursuant to subsection 3, states that the current trustee of record and the current beneficiary of record cannot be located after diligent search;

80th Session (2019) – 12 – 9.

(a) A notice stating the intent to record a surety bond and declaration pursuant to this section, the name and address of the - *SB382_R2* – 12 – trustee, the beneficiary’s right to record a written objection to the reconveyance of the deed of trust pursuant to this section and the requirement to notify the trustee in writing of any such objection, has been mailed by certified mail, return receipt requested, to the last known address of the person to whom payments under the deed of trust were made and to the last beneficiary of record at the address indicated for such beneficiary on the instrument creating, assigning or conveying the deed of trust.

[10.

As used in this section:

(1) Is included in the United States Department of the Treasury’s Listing of Approved Sureties;

andepartmentand of the (2) Issues a surety bond pursuant to this section that does not exceed the underwriting limitations established for that surety by the United States Department of the Treasury.

80th Session (2019) – 13 – (a) Consisting of not more than four family dwelling units or a single-family residential unit, including, without limitation, a condominium, townhouse or home within a subdivision, if the unit is sold, leased or otherwise conveyed unit by unit, regardless of whether the unit is part of a larger building or parcel that consists of more than four units;

and - *SB382_R2* – 13 – (b) That the grantor or the successor in interest of the grantor has surrendered as evidenced by a document signed by the grantor or successor confirming the surrender or by the delivery of the keys to the property to the beneficiary or that satisfies the following conditions:

(6) An owner of the residential real property is not presently serving in the Armed Forces of the United States, a reservepresentlyreserve component thereof or the National Guard;

and (7)(I)(7) ConstructionTwo wasor initiatedmore onof the residentialfollowing realconditions propertyexist: and was discontinued before completion, leaving a building unsuitable for occupancy, and no construction has taken place for at least 6 months;

(I) Construction was initiated on the residential real property and was discontinued before completion, leaving a building unsuitable for occupancy, and no construction has taken place for at least 6 months;

80th Session (2019) – 14 – (IV) The residential real property has been stripped of copper or other materials, or interior fixtures to the property have been removed;

(VI) The residential real property has been declared unfit for occupancy and ordered to remain vacant and unoccupied under - *SB382_R2* – 14 – an order issued by a municipal or county authority or a court of competent jurisdiction;

ascribed3. to it in NRS 116.027.n, “condominium” has the meaning Sec.

As used in this section, “condominium” has the meaning ascribed to it in NRS 116.027.

Sec.

107.0805,107.080 107.0851. and 107.086, if any transfer in trust of any estate in real property is made after March 29, 1927, to secure the performance of an obligation or the payment of any debt, a power of sale is hereby conferred upon the trustee to be exercised after a breach of the obligation for which the transfer is security.

Except as otherwise provided in NRS 106.210, 107.0805, 107.085 and 107.086, if any transfer in trust of any estate in real property is made after March 29, 1927, to secure the performance of an obligation or the payment of any debt, a power of sale is hereby conferred upon the trustee to be exercised after a breach of the obligation for which the transfer is security.

80th Session (2019) – 15 – (a) In the case of any deed of trust [agreement] coming into force:

or (2) On or after July 1, 1957, the grantor, the person who holds the title of record, a beneficiary under a subordinate deed of trust or any other person who has a subordinate lien or encumbrance of record on the property has, for a period of 35 days, computed as - *SB382_R2* – 15 – prescribed in subsection 3, failed to make good the deficiency in performance or payment.

The 15- or 35-day period provided in paragraph (a) of subsection 2 commences on the first day following the day upon which the notice of default and election to sell is recorded in the office of the county recorder of the county in which the property is located and a copy of the notice of default and election to sell is mailed by registered or certified mail, return receipt requested and with postage prepaid to the grantor or, to the person who holds the title of record on the date the notice of default and election to sell is recorded, and, if the property is operated as a facility licensed underisunder chapter 449 of NRS, to the State Board of Health, at their respective addresses, if known, otherwise to the address of the trust property or, if authorized by the parties, delivered by electronic transmission.

The notice of default and election to sell must describe the deficiency in performance or payment and may contain a notice of intent to declare the entire unpaid balance due if acceleration is 80th Session (2019) – 16 – permitted by the obligation secured by the deed of trust, but acceleration must not occur if the deficiency in performance or payment is made good and any costs, fees and expenses incident to the preparation or recordation of the notice and incident to the making good of the deficiency in performance or payment are paid within the time specified in subsection 2.

(a) Providing the notice to each trustor, any other person entitled to notice pursuant to this section and, if the property is operated as a - *SB382_R2* – 16 – facility licensed under chapter 449 of NRS, the State Board of Health, by personal service, by electronic transmission if authorized by the parties or by mailing the notice by registered or certified mail to the last known address of the trustor and any other person entitled to such notice pursuant to this section;

(b) Except as otherwise provided in subsection 6, an action is commenced in the county where the sale took place within 30 days after the date on which the trustee’s deed upon sale is recorded pursuant to subsection 10 in the office of the county recorder of the cou(c)county Ain noticewhich of lis pendens providing notice of the pendencyproperty of the action is recordedlocated; in the office of the county recorder of the county where the sale took place within 5 days after commencement of the action.

and (c) A notice of lis pendens providing notice of the pendency of the action is recorded in the office of the county recorder of the 80th Session (2019) – 17 – county where the sale took place within 5 days after commencement of the action.

If, in an action brought by the grantor or the person who holds title of record in the district court in and for the county in - *SB382_R2* – 17 – which the real property is located, the court finds that the beneficiary, the successor in interest of the beneficiary or the trustee did not comply with any requirement of subsection 2, 3 or 4, the court must award to the grantor or the person who holds title of record:

(a) Within 30 days after the date of the sale, record the trustee’s deed upon sale in the office of the county recorder of the county in which the property is located;

orheor county recorder of the county in (b) Within 20 days after the date of the sale, deliver the trustee’s date of delivery of the deed by the trustee, the successful bidder shall record the trustee’s deed upon sale into the officesuccessful ofbidder. the county recorder of the county in which the property is located.

Within 10 days after the 80th Session (2019) – 18 – date of delivery of the deed by the trustee, the successful bidder shall record the trustee’s deed upon sale in the office of the county recorder of the county in which the property is located.

and - *SB382_R2* – 18 – (b) Is liable in a civil action for any actual damages caused by the failure to comply with the provisions of subsection 10 and for reasonable attorney’s fees and the costs of bringing the action.

and (2) The development and maintenance of an Internet portal for a program of foreclosure mediation pursuant to subsection [18] 16 of NRS 107.086.

The county treasurer shall remit quarterly to the organization operating the program for legal services that receives the fees charged pursuant to NRS 19.031 for the operation of programs for the toindigent thisall paragraph.oneythe money received from the county recorder pursuant 14.to this paragraph.

The80th feesSession collected(2019) pursuant– to19 paragraphs– (a)14. and (b) of county recorder on or before the fifth day of each month for the preceding calendar month, and, except as otherwise provided in this subsection, must be placed to the credit of the State General Fund or the Account for Foreclosure Mediation Assistance as prescribed pursuant to subsection 13.

The fees collected pursuant to paragraphs (a) and (b) of subsection 13 must be paid over to the county treasurer by the county recorder on or before the fifth day of each month for the preceding calendar month, and, except as otherwise provided in this subsection, must be placed to the credit of the State General Fund or the Account for Foreclosure Mediation Assistance as prescribed pursuant to subsection 13.

As used in this section, “trustee” means the trustee of record.] - *SB382_R2* – 19 – Sec.

The affidavit required by this paragraph must state under penalty of perjury the following information, which must be based on the direct, personal knowledge of the affiant or the personal knowledge which the affiant acquired by a review of the the80th beneficiarySession or(2019) the– servicer20 of– the obligation or debt secured by the deed of trust, which business records mustof meet the standardsbeneficiary, setthe forthsuccessor (1)in Theinterest full name and business address of the currentbeneficiary trustee or the currentservicer trustee’sof personalthe representativeobligation or assignee,debt the current holder of the note secured by the deed of trust, thewhich currentbusiness beneficiaryrecords ofmust recordmeet and the currentstandards servicerset offorth thein obligationNRS or51.135: debt secured by the deed of trust.

(1) The full name and business address of the current trustee or the current trustee’s personal representative or assignee, the current holder of the note secured by the deed of trust, the current beneficiary of record and the current servicer of the obligation or debt secured by the deed of trust.

or - *SB382_R2* – 20 – (III) A person not in possession of the instrument who is entitled to enforce the instrument pursuant to a court order issued under NRS 104.3309.

and 80th Session (2019) – 21 – (VI) Contact information for obtaining the most current amounts due and the local or toll-free telephone number described in subparagraph (4).

(4) A local or toll-free telephone number that the obligor or borrower of the obligation or debt may call to receive the most current amounts due and a recitation of the information contained in the affidavit.

(5) The date and the recordation number or other unique designation of, and the name of each assignee under, each recorded assignment of the deed of trust.

The period provided in paragraph (a) of subsection 1 commences on the first day following the day upon which the notice of default and election to sell is recorded in the office of the county - *SB382_R2* – 21 – recorder of the county in which the property is located and a copy of the notice of default and election to sell is mailed by registered or certified mail, return receipt requested and with postage prepaid, to the grantor or to the person who holds the title of record on the date the notice of default and election to sell is recorded, at their respective addresses, if known, otherwise to the address of the trust property or, if authorized by the parties, delivered by electronic transmission.

(a) If the property is subject to the requirements of NRS 107.400 to 107.560, inclusive, contain the declaration required by subsection 6 of NRS 107.510;

and 80th Session (2019) – 22 – (c) Comply with the provisions of NRS 107.087.

In addition to providing notice pursuant to the requirements set forth in subsection 4 of NRS 107.080, the trustee, or other person authorized to make the sale under the terms of the deed of trust [or transfer in trust] with respect to a residential foreclosure, shall, after expiration of the applicable period specified in paragraph (d) of subsection 2 of NRS 107.080, following the recording of the notice of breach and election to sell, and before the making of the sale, comply with the provisions of NRS 107.087.

subsection4. 5 of NRS 107.080, a sale made pursuant to this section must be declared void by any court of competent jurisdiction in the county where the sale took place if the trustee or other person authorized to make the sale does not substantially comply with any applicable provisions set forth in NRS 107.086 and 107.087, and the applicant otherwise complies with subsection 5 of NRS 107.080.

In addition to the grounds provided in paragraph (a) of subsection 5 of NRS 107.080, a sale made pursuant to this section must be declared void by any court of competent jurisdiction in the county where the sale took place if the trustee or other person authorized to make the sale does not substantially comply with any applicable provisions set forth in NRS 107.086 and 107.087, and the applicant otherwise complies with subsection 5 of NRS 107.080.

With regard to a [transfer in] deed of trust [of] for an estate in real property to secure the performance of an obligation - *SB382_R2* – 22 – or the payment of a debt, the provisions of this section apply to the exercise of a power of sale pursuant to NRS 107.080 only if:

(a) The deed of trust [agreement] becomes effective on or after October 1, 2003, and, on the date the deed of trust [agreement] is made, the deed of trust [agreement] is subject to the provisions of § 152 of the Home Ownership and Equity Protection Act of 1994, 15 U.S.C.

(a) In the manner required by subsection 3, not later than 60 days before the date of the sale, the trustee causes to be served upon 80th Session (2019) – 23 – the grantor or the person who holds the title of record a notice in the form described in subsection 3;

(a) Served upon the grantor or the person who holds the title of record(1)record: Except as otherwise provided in subparagraph (2), by personal service or, if personal service cannot be timely effected, in afford notice to the grantor or the person who holds the title ofto record;

(1) Except as otherwise provided in subparagraph (2), by personal service or, if personal service cannot be timely effected, in such other manner as a court determines is reasonably calculated to afford notice to the grantor or the person who holds the title of record;

and - *SB382_R2* – 23 – (b) In substantially the following form, with the applicable telephone numbers and mailing addresses provided on the notice and, except as otherwise provided in subsection 4, a copy of the promissory note attached to the notice:

6 NOTICE YOU ARE IN DANGER OF LOSING YOUR HOME! 9 Your home loan is being foreclosed.

Consumer Credit Counseling _______________ The Attorney General __________________ 80th Session (2019) – 24 – The Division of Mortgage Lending _____ The Division of Financial Institutions ________________ Legal Services ______________________ Your Lender ___________________ Nevada Fair Housing Center ________________ 4.

5.

This section does not prohibit a judicial foreclosure.

TAsAs used in this section, “unfair lending practice” means an unfair lending practice described in NRS 598D.010 to 598D.150, incSec.inclusive.

Sec.

- *SB382_R2* – 24 – (1) Contact information which the grantor or the person who holds the title of record may use to reach a person with authority to negotiate a loan modification on behalf of the beneficiary of the deed of trust;

80th Session (2019) – 25 – (4) A notice provided by Home Means Nevada, Inc., or its successor organization, indicating that the grantor or the person who holds the title of record may petition the district court to participate in mediation pursuant to this section if he or she files such a petition, pays a $25 filing fee, serves a copy of the petition upon the beneficiary of the deed, Home Means Nevada, Inc., or its successor organization, and the trustee by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission, and pays to the district court his or her share of the fee established pursuant to subsection 12;

and (5) A form upon which the grantor or the person who holds the title of record may indicate an election to waive mediation andpursuant one envelope addressed to Homethis Meanssection Nevada,and Inc.,one orenvelope itsusteeaddressed successor organization, which the grantor or the person who holds subsection 3;record may use to comply with the provisionstrustee ofand (b)one Inenvelope additionaddressed to includingHome theMeans informationNevada, describedInc., inor paragraphits (a)successor withorganization, the notice of default and election to sell which is mailed or delivered by electronic transmission, as applicable, to the grantor or the person who holds the title of record asmay requireduse by subsection 3 of NRS 107.080, provides to thecomply grantorwith or the personprovisions who holds the title of record the information described in paragraph (a) concurrently with, but separately from, the notice of default and election to sell which is mailed or delivered by electronic transmission, as applicable, to the grantor or the person who holds the title of record as required by subsection 33; of NRS 107.080;

(b) In addition to including the information described in paragraph (a) with the notice of default and election to sell which is mailed or delivered by electronic transmission, as applicable, to the grantor or the person who holds the title of record as required by subsection 3 of NRS 107.080, provides to the grantor or the person who holds the title of record the information described in paragraph (a) concurrently with, but separately from, the notice of default and election to sell which is mailed or delivered by electronic transmission, as applicable, to the grantor or the person who holds the title of record as required by subsection 3 of NRS 107.080;

(d) If the owner-occupied housing is located within a common-interest community, notifies the unit-owners’ association of the common-interest community, not later than 10 days after mailing or delivering by electronic transmission, as applicable, the copy of the notice of default and election to sell as required by - *SB382_R2* – 25 – subsection 3 of NRS 107.080, that the exercise of the power of sale is subject to the provisions of this section;

or 80th Session (2019) – 26 – (2) The certificate provided to the trustee by Home Means Nevada, Inc., or its successor organization, pursuant to subsection 8 which provides that mediation has been completed in the matter.

If the grantor or the person who holds the title of record does not elect to waive mediation, he or she shall, not later than 30 days after the service of the notice in the manner required by NRS 107.080, petition the district court to participate in mediation pursuant to this section, at the time of filing such a petition, pay to the clerk of the court a fee of $25 and his or her share of the fee holdsestablished thepursuant titleto ofsubsection record12. shall serve a copy of the petition, by who certified mail, return receipt requested or, if authorized by the of trust and Home Means Nevada, Inc., or its successorary of the deed organization.

The grantor or the person who holds the title of record shall serve a copy of the petition, by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission, upon the beneficiary of the deed of trust and Home Means Nevada, Inc., or its successor organization.

If the grantor or the person who holds the title of record indicates on the form described in subparagraph (5) of paragraph (a) of subsection 2 an election to waive mediation, fails to petition the district court pursuant to subsection 3 or fails to pay to the district - *SB382_R2* – 26 – court his or her share of the fee established pursuant to subsection 12 as required by subsection 3, Home Means Nevada, Inc., or its successor organization, shall, not later than 60 days after Home Means Nevada, Inc., or its successor organization, receives the form indicating an election to waive mediation or 90 days after the 80th Session (2019) – 27 – service of the notice in the manner required by NRS 107.080, whichever is earlier, provide to the trustee a certificate which provides that no mediation is required in the matter.

fails6. to attend the mediation, fails to participate in the mediation in good faith or does not bring to the mediation each document a person with the authority required by subsection 5, the mediatorto shall prepare and submit to the district court a recommendation concerning the imposition of sanctions against the beneficiary of the deed of trust or the representative.

If the beneficiary of the deed of trust or the representative fails to attend the mediation, fails to participate in the mediation in good faith or does not bring to the mediation each document required by subsection 5 or does not have the authority or access to a person with the authority required by subsection 5, the mediator shall prepare and submit to the district court a recommendation concerning the imposition of sanctions against the beneficiary of the deed of trust or the representative.

If the mediator determines that the parties, while acting in good faith, are not able to agree to a loan modification, the mediator shall prepare and submit to the district court a recommendation that - *SB382_R2* – 27 – the petition be dismissed.

Home 80th Session (2019) – 28 – Means Nevada, Inc., or its successor organization, shall, not later than 30 days after receipt of such an order, provide to the trustee a certificate which provides that the mediation required by this section has been completed in the matter.

manner.Ensuring(a) Ensuring that mediations occur in an orderly and timely (b)manner. Requiring each party to a mediation to provide such inf(c) Establishing procedures to protect the mediation process from abuse and to ensure that each party to the mediation acts in good faith.

(b) Requiring each party to a mediation to provide such information as the mediator determines necessary.

(c) Establishing procedures to protect the mediation process from abuse and to ensure that each party to the mediation acts in good faith.

- *SB382_R2* – 28 – 13.

80th Session (2019) – 29 – (a) The grantor or the person who holds the title of record has surrendered the property, as evidenced by a letter confirming the surrender or delivery of the keys to the property to the trustee, the beneficiary of the deed of trust or the mortgagee, or an authorized agent thereof;

and (b) Any other information required by the Interim Finance Com17.Committee.

The17. Administrator of the Division of Internal Audits of the Office of Finance shall cause to be conducted, not less than organization.audit of Home Means Nevada, Inc., or its successor 18.] Home Means Nevada, Inc., or its successor organization, shall develop and maintain an Internet portal for a program of foreclosure mediation to streamline the process of foreclosure mediation.

The Administrator of the Division of Internal Audits of the Office of Finance shall cause to be conducted, not less than annually, an audit of Home Means Nevada, Inc., or its successor organization.

18.] Home Means Nevada, Inc., or its successor organization, shall develop and maintain an Internet portal for a program of foreclosure mediation to streamline the process of foreclosure mediation.

-80th *SB382_R2*Session (2019) – 2930 – (a) A report concerning the program of foreclosure mediation and the operational and financial status of Home Means Nevada, Inc., or its successor organization;

owner-occupied107.0865 housing1. or a grantor or the person who holds the title of record with respect to any deed of trust [agreement] which negotiate a loan modification under the mediation process set forth in NRS 107.086 if:

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 [agreement] which concerns owner-occupied housing may initiate mediation to negotiate a loan modification under the mediation process set forth in NRS 107.086 if:

and 80th Session (2019) – 31 – (4) Serves a copy of the petition upon Home Means Nevada, Inc., or its successor organization, and the beneficiary of the deed of - *SB382_R2* – 30 – trust, by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission.

If the mediator determines that the parties, while acting in good faith, are not able to agree to a loan modification, the mediator shall prepare and submit to the district court a recommendation that transmit a copy of the orderpetition ofbe dismissaldismissed. to Home Means Nevada,nd Inc., or its successor organization.

HomeThe Meanscourt Nevada,may Inc.,dismiss or its the orderpetition ofand dismissal,transmit provide to the mortgage servicer a certificatecopy whichof provides that the mediationorder requiredof bydismissal thisto sectionHome hasMeans beenNevada, completedInc., inor theits matter.successor organization.

Home Means Nevada, Inc., or its successor organization shall, not later than 30 days after receipt of the order of dismissal, provide to the mortgage servicer a certificate which provides that the mediation required by this section has been completed in the matter.

80th Session (2019) – 32 – 6.

- *SB382_R2* – 31 – 7.

In addition to the requirements of NRS 107.080, if the sale of property is a residential foreclosure, a copy of the not(a)notice Beof posteddefault inand aelection conspicuousto placesell onand the propertynotice notof latert:sale must:

(a) Be posted in a conspicuous place on the property not later than:

(1) For a notice of default and election to sell, 100 days before the date of sale;

orefaultor and election to sell, 100 days (2) For a notice of sale, 15 days before the date of sale;

A separate notice must be posted in a conspicuous place on the property and mailed, with a certificate of mailing issued by the United States Postal Service or another mail delivery service, to any 80th Session (2019) – 33 – tenant or subtenant, if any, other than the grantor or the grantor’s successor in interest, in actual occupation of the premises not later than 15 days before the date of sale.

- *SB382_R2* – 32 – NOTICE TO TENANTS OF THE PROPERTY 3 Foreclosure proceedings against this property have started, and a notice of sale of the property to the highest bidder has been issued.

7 You may either:

After the date of the sale, you may be evicted if you fail to pay rent or live up to your other obligations to the successful bidder,Revised inStatutes.ance accordance with chapter 118A of the Nevada Revisedbegin Statutes.against you after you have been given a notice tomay surrender.

UnderIf the Nevadaproperty Revisedis Statutessold evictionand proceedingsyou maypay beginrent againstby the week or another period of time that is shorter than 1 month, you should generally receive notice after younot haveless beenthan giventhe anumber noticeof todays surrender.in that period of time.

If the property is sold and you pay rent by the week or should generally receive notice after not less than the number of days in that period of time.

80th Session (2019) – 34 – (1) Delivering a copy to you personally in the presence of a witness, unless service is accomplished by a sheriff, constable or licensed process server, in which case the presence of a witness is not required;

(2) If you are absent from your place of residence or usual place of business, leaving a copy with a person of suitable age and discretion at either place and mailing a copy to you at - *SB382_R2* – 33 – your place of residence or business and to the place where the leased property is situated, if different;

9 If the property is sold and a landlord, successful bidder or subsequent purchaser files an eviction action against you in court, you will be served with a summons and complaint and have the opportunity to respond.

(3) A hearing regarding a temporary eviction may be called as soon as 11 days after you are served with the sum(4) A hearing regarding a permanent eviction may be called as soon as 20 days after you are served with the summons and complaint.complaint;

and (4) A hearing regarding a permanent eviction may be called as soon as 20 days after you are served with the summons and complaint.

As used in this section, “residential foreclosure” has the meaning ascribed to it in NRS 107.0805.] 80th Session (2019) – 35 – Sec.

2.] 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 of a notice of default or notice of sale under a deed of trust with power of sale upon real property may at any time after - *SB382_R2* – 34 – recordation of the deed of trust record in the office of the county recorder of the county in which any part of the real property is situated an acknowledged request for a copy of the notice of default or of sale.

recorder[5.] of4. the county in which a unit governed by the association is situated an acknowledged request for a copy of the deed upon sale association must include, without limitation:quest recorded by an (a) A legal description of the unit or the assessor’s parcel number of the unit;

An association may record in the office of the county recorder of the county in which a unit governed by the association is situated an acknowledged request for a copy of the deed upon sale of the unit pursuant to a deed of trust.

A request recorded by an association must include, without limitation:

(a) A legal description of the unit or the assessor’s parcel number of the unit;

80th Session (2019) – 36 – [6.] 5.

If a trustee or person authorized to record a notice of default records the notice of default for a unit regarding which an association has recorded a request pursuant to subsection [5,] 4, the trustee or authorized person shall mail to the association a copy of the deed upon the sale of the unit pursuant to a deed of trust within 15 days after the trustee records the deed upon the sale of the unit.

No request recorded pursuant to the provisions of subsection [2] 1 or [5] 4 affects the title to real property, and failure to mail a copy of the deed upon the sale of the unit after a request is - *SB382_R2* – 35 – made by an association pursuant to subsection [5] 4 does not affect the title to real property.

Failure to give the notice of default required by NRS 107.090, except as otherwise provided in subsection 3, releases the obligation to the beneficiary of any person who has complied with NRS 107.090 and who is or may otherwise be held liable for the debt or other obligation secured by the deed of trust, but such a failure does not affect the validity of a sale conducted pursuant to NRS 107.080 or the obligation of any person to whom the noticeantnotice to was properly given pursuant to this section or to NRS 107.080 or 3.7.0A107.090. guarantor, surety or other obligor is not released pursuant to this section if:

(a)3. The required notice is given at least 15 days before the later of:

A guarantor, surety or other obligor is not released pursuant to this section if:

80th Session (2019) – 37 – (a) The required notice is given at least 15 days before the later of:

(2) In the case of any deed of trust [agreement] which concerns owner-occupied housing , [as defined in NRS 107.086,] the expiration of the period described in paragraph (a) of subsection 1 of NRS 107.0805;

- *SB382_R2* – 36 – (a) Determines that real property is abandoned residential property;

Upon receipt of a request pursuant to paragraph (b) of subsection 3, the agency or contractor designated by the applicable governmental entity shall inspect the real property to determine the existence of two or more conditions pursuant to subparagraph (7) of paragraph (b) of subsection 1 of NRS 107.0795.

The designee and)and of any employees of the designee may enter the real property, but may not enter any dwelling or structure, to perform an inspection pursuant to this subsection, and the designee and any employees 80th Session (2019) – 38 – who enter real property pursuant to this subsection are not liable for any civil damages as a result of any act or omission, not amounting to gross negligence, or for trespass.

If a grantor or the successor in interest of the grantor or a lawful occupant of the real property fails to contact the designee within 30 days after service of the notice, the designee shall provide to the beneficiary a certification that the real property - *SB382_R2* – 37 – is abandoned residential property.

The affidavit req(a)required Be signed and verified by thethis beneficiary;subsection must:

(b)(a) StateBe that,signed upon information and beliefverified ofby the beneficiarybeneficiary; abandoned residential property;

andary80th orSession its(2019) agent,– the39 property– is(b) (c) State that, upon information and belief of the conditionsbeneficiary orafter circumstancesinvestigation supportingby the determinationbeneficiary thator its agent, the property is abandoned residential property.property;

and (c) State the conditions or circumstances supporting the determination that the property is abandoned residential property.

- *SB382_R2* – 38 – (a) The grantor or the successor in interest must mail by registered or certified mail, return receipt requested, to the beneficiary and the trustee a copy of the affidavit;

Chapter 7, 11, 12 or 13, until the bankruptcy court enters an order closing or dismissing the bankruptcy case or granting relief from a stay of the trustee’s sale.

80th Session (2019) – 40 – (b) If a court issues a stay or enjoins the trustee’s sale, until the court issues an order granting relief from the stay or dissolving thethethe injunction.

10.

As used in this section [:

As used in this section, “sale in lieu of a foreclosure sale” has the meaning ascribed to it in NRS 40.429.] - *SB382_R2* – 39 – Sec.

80th Session (2019) – 41 – (a) In a county with a population of 700,000 or more with respect to a ground lessee who enters into a ground lease for real property which is designated for use or development by the county for commercial purposes which are compatible with the operation of the international airport for the county.

(b) If all owners of the property, individually or collectively, record a written notice of waiver of the owners’ rights set forth in NRS 108.234 with the county recorder of the county where the property is located before the commencement of construction of the work of improvement.

Each owner who records a notice of waiver pursuant to paragraph (b) of subsection 1 must serve such notice by certified mail, return receipt requested, upon [the] any prime contractor of the work of improvement and all other lien claimants who [may] give the owner a notice of right to lien pursuant to NRS 108.245, within 10 days after the owner’s receipt of a notice of right to lien or 10 days after the date on which the notice of waiver is recorded pursuant to this subsection.

- *SB382_R2* – 40 – (1) To lease real property which, on the date on which the agreement is signed, does not include any existing buildings or improvements that may be occupied on the land;

80th Session (2019) – 42 – (a) The copy of the complaint served on the mortgagor must include a separate document containing:

(1) Contact information which the mortgagor may use to reach a person with authority to negotiate a loan modification on behalf of the plaintiff;

(2) Contact information for at least one local housing counseling agency approved by the United States Department of Housing and Urban Development;

If the mortgagor elects to waive mediation, he or she shall, not later than the date on which an answer to the complaint is due, complete the form required by subparagraph (4) of paragraph (a) of - *SB382_R2* – 41 – subsection 2 and file the form with the court and return a copy of the form to the plaintiff by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission.

The judicial foreclosure action must be stayed until the 80th Session (2019) – 43 – completion of the mediation.

If the mortgagor indicates on the form required by subparagraph (4) of paragraph (a) of subsection 2 of his or her election to waive mediation or fails to pay the court his or her share of the fee established pursuant to subsection 12 of NRS 107.086, as required by this subsection, no mediation is required in the action and the action pursuant to NRS 40.430 must proceed.redproceed. in 4.

Each4. mediation required by this section must be conducted to the rules adopted pursuant to subsection 12 of NRS 107.086.

TheantEach plaintiffmediation orrequired aby representative,this andsection themust mortgagorbe orconducted hisby a senior justice, judge, hearing master or herother representative,designee shallpursuant attendto the mediation.rules adopted pursuant to subsection 12 of NRS 107.086.

The plaintiff or a representative, and the mortgagor or his or her representative, shall attend the mediation.

- *SB382_R2* – 42 – 6.

(a) The mortgagor has surrendered the property, as evidenced by a letter confirming the surrender or delivery of the keys to the 80th Session (2019) – 44 – property to the trustee, the beneficiary of the deed of trust or the mortgagee, or an authorized agent thereof;

application10. of this section.r is not excluded from the 11.

EachA mediatornoncommercial wholender acts pursuant to this section in good those acts.ithout gross negligence is immunenot excluded from civilthe liabilityapplication forof 12.this section.

11.

Each mediator who acts pursuant to this section in good faith and without gross negligence is immune from civil liability for those acts.

12.

or (b) Waive the secured lender’s lien in accordance with paragraph (a) as to that part of the real collateral which is - *SB382_R2* – 43 – environmentally impaired and proceed against the unimpaired real collateral.

80th Session (2019) – 45 – (a) A legal description of the environmentally impaired real collateral;

and (c) If the secured lender is proceeding under paragraph (b) of subsection 1, a statement that the secured lender will proceed deficiency against the debtorunimpaired asproperty, awhich may result of diminution in valuea ofjudgment thefor collateraldeficiency becauseagainst of the exclusiondebtor of the environmentally impaired por3.on.A secured lender may not waive the secured lender’s lien as a result of anydiminution environmentalin impairmentvalue ifof the securedcollateral lenderbecause had actual knowledge of the environmentalexclusion impairmentof at the timeenvironmentally theimpaired lienportion. was created.

3.

A secured lender may not waive the secured lender’s lien as a result of any environmental impairment if the secured lender had actual knowledge of the environmental impairment at the time the lien was created.

For each loan requiring the deposit of money to an escrow account, loan trust account or other impound account for the payment of taxes, assessments, rental or leasehold payments, - *SB382_R2* – 44 – insurance premiums or other obligations related to the encumbered property, the lender shall:

At least 30 days before the effective date of any increased contribution to the account based on the analysis, a statement must be sent to the borrower showing the method of determining the amount of money held in the account, the amount of projected disbursements from the account and the 80th Session (2019) – 46 – amount of the reserves which may be held in accordance with federal guidelines.

The lender shall not declare a default on the account solely because the borrower is unable to pay the3.mouExcept for payments made by a borrower for a lender to recover previous deficiencies in contributions to the account subsection 4 to the amount byof which the borrower’sdeficiency contributionsin toone thelump accountsum. exceed the amount reasonably necessary to pay the annual obligations due from the account, together with interest thereon at the rate established pursuant to NRS 99.040.

3.

Except for payments made by a borrower for a lender to recover previous deficiencies in contributions to the account pursuant to subsection 2, the borrower is entitled pursuant to subsection 4 to the amount by which the borrower’s contributions to the account exceed the amount reasonably necessary to pay the annual obligations due from the account, together with interest thereon at the rate established pursuant to NRS 99.040.

- *SB382_R2* – 45 – (2) Apply the excess money and interest to the outstanding principal balance;

80th Session (2019) – 47 – 7.

A lender who violates any provision of subsections 4, 5 and 6 is liable to the borrower for a civil penalty of not more than $1,000.

and (b) A unit in a common-interest community that is used exclusively for residential use, as those terms are defined in chapter 116 of NRS.

(a) “Borrower” means any person who receives a loan secured by real property and who is required to make advance contributions for the payment of taxes, insurance premiums or other expenses rel(b) “Lender” means any person who makes loans secured by real property and who requires advance contributions for the the property.xes, insurance premiums or other expenses related to Sec.the property.

(b) “Lender” means any person who makes loans secured by real property and who requires advance contributions for the payment of taxes, insurance premiums or other expenses related to the property.

Sec.

The parcel number must comply with the current system for numbering parcels used by the county assessor’s - *SB382_R2* – 46 – office.

80th Session (2019) – 48 – (c) Warranty deed;

If a document including the same legal description described in subsection 5 previously has been recorded, the document must include all information necessary to identify and locate the previous recording, but the name and mailing address of the person who prepared the legal description is not required for the document to be recorded.

The county recorder is not required to verify the accuracyeaccuracy of the information concerning the previous recording.

- *SB382_R2* – 47 – (b) Only the provisions of NRS 116.001 to 116.2122, inclusive, and 116.3116 to 116.31168, inclusive, apply to the planned community;

80th Session (2019) – 49 – 4.

association:ited-purpose(a) A limited-purpose association, except that a limited-purpose (1)association: Shall pay the fees required pursuant to NRS 116.31155, agriculturalifresidentiald-common-interesttioncommunity,d fortherural limited-purpose association is not required to pay the fee unless the association intends to use the services of the Ombudsman;

(1) Shall pay the fees required pursuant to NRS 116.31155, except that if the limited-purpose association is created for a rural agricultural residential common-interest community, the limited-purpose association is not required to pay the fee unless the association intends to use the services of the Ombudsman;

- *SB382_R2* – 48 – (4) Shall comply with the provisions of NRS 116.4101 to 116.412, inclusive, as required by the regulations adopted by the Commission pursuant to paragraph (b) of subsection 5;

and (5) Shall not enforce any restrictions concerning the use of units by the units’ owners, unless the limited-purpose association is 80th Session (2019) – 50 – created for a rural agricultural residential common-interest community.

[(d)] (c) A common-interest community that was created before January 1, 1992, is located in a county whose population is less than 55,000, and has less than 50 percent of the units within the ownerscommunity otherwiseput electto inresidential writing.unlessuse, unless a majority of the units’ [(e)]owners (d) Except as otherwise providedelect in thiswriting. chapter, time shares governed by the provisions of chapter 119A of NRS.

[(e)] (d) Except as otherwise provided in this chapter, time shares governed by the provisions of chapter 119A of NRS.

(d) Except as otherwise provided in subsection 8 of NRS 116.31105, prohibit a common-interest community created before January 1, 1992, or a common-interest community described in NRS 116.31105 from providing for a representative form of government, except that, in the election or removal of a member of the executive - *SB382_R2* – 49 – board, the voting rights of the units’ owners may not be exercised by delegates or representatives;

80th Session (2019) – 51 – (e) Prohibit a master association which governs a time-share plan created pursuant to chapter 119A of NRS from providing for a representative form of government for the time-share plan;

interest(1) community;capeThe landscape of the common elements of a common- (2)interest Facilitiescommunity; for flood control;

or(2) community;Facilities for flood control;

andor rural(3) agriculturalA residential common-interest (b) Is not authorized by its governing documents to enforce any restrictions concerning the use of units by units’ owners, unless the limited-purpose association is created for a rural agricultural residential common-interest community.community;

and (b) Is not authorized by its governing documents to enforce any restrictions concerning the use of units by units’ owners, unless the limited-purpose association is created for a rural agricultural residential common-interest community.

Except as otherwise provided in NRS 116.21175, and except in cases of amendments that may be executed by a declarant under subsection 5 of NRS 116.2109 or NRS 116.211, or by the association under NRS 116.1107, 116.2106, subsection 3 of NRS 116.2108, subsection 1 of NRS 116.2112 or NRS 116.2113, or by certain units’ owners under subsection 2 of NRS 116.2108, subsection 1 of NRS 116.2112, subsection 2 of NRS 116.2113 or subsection 2 of NRS 116.2118, and except as otherwise limited by subsections 4, 6, 7 and 8, the declaration, including any plats, may be amended only by vote or agreement of units’ owners of units to which at least a majority of the votes in the association are allocated, unless the declaration specifies a different percentage -80th *SB382_R2*Session (2019) – 5052 – for all amendments or for specified subjects of amendment.

No action to challenge the validity of an amendment adopted by the association pursuant to this section may be brought more than 1 year after the amendment is recorded.

Amendments to the declaration required by this chapter to be recorded by the association must be prepared, executed, recorded and certified on behalf of the association by any officer of the designation,association bydesignated for that purpose or, in the presidentabsence of thedesignation, association.eby absencethe president of 6.the association.

An6. amendment to the declaration which prohibits or other qualifications of persons who may occupy units may not be or enforced against a unit’s owner who was the owner of the unit on the date of the recordation of the amendment as long as the unit’s owner remains the owner of that unit.

An amendment to the declaration which prohibits or materially restricts the permitted uses of a unit or the number or other qualifications of persons who may occupy units may not be enforced against a unit’s owner who was the owner of the unit on the date of the recordation of the amendment as long as the unit’s owner remains the owner of that unit.

or (b) Notice of any proposed amendment is required or has been requested and a written refusal to consent is not received by the association within 60 days after the association delivers notice of the 80th Session (2019) – 53 – proposed amendment to the holder, insurer or guarantor, by certified - *SB382_R2* – 51 – mail, return receipt requested, to the address for notice provided by the holder, insurer or guarantor in a prior written request for notice.

If a civil action is commenced pursuant to this paragraph without the required vote or agreement, the action must be ratified within 90 days after the commencement of the action by a vote or written agreement of the owners of the units to which at least a majority of votes of the members of the association are allocated.

If the association, after making a good faith effort, cannot obtain the required vote or agreement to commence or ratify such a civil action, the association may thereafter seek to dismiss the action without prejudice for that reason only if a vote or written agreementonagreement of the owners of the units to which at least a majority of votes of the members of the association are allocated was obtained at the time the approval to commence or ratify the action was sought.

and 80th Session (2019) – 54 – (c) All disclosures that are required to be made upon the sale of the property.

- *SB382_R2* – 52 – 3.

(a) [State the] The name and address of the person requesting copies of the notices;

name and address of the person requesting (b) [State a] A legal description of the unit in which the person has(c)has Thean namesinterest ofor the unit’sassessor’s ownerparcel andnumber theof common-interest;that unit;

and (c) The names of the unit’s owner and the common-interest community.

The association or other person authorized to make the sale shall, at least 20 days before the date of sale, cause to be deposited in the United States mail an envelope, registered or certified, return receipt requested and with postage prepaid, containing a copy of the 80th Session (2019) – 55 – notice of time and place of sale, addressed to each person described in subsection 2.

As used in this section, “person with an interest” means any person who has or claims any right, title or interest in, or lien or - *SB382_R2* – 53 – charge upon, a unit being foreclosed pursuant to NRS 116.31162 to 116.31168, inclusive.

H~~~~~ -19 *SB382_R2*80th Session (2019)