Amendment vs bill Amendment 721 vs Enrolled

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Senate Bill No.
Session (80th) A SB382 R1 721 Amendment No.
382–Senator Cannizzaro CHAPTER..........
721 Assembly Amendment to Senate Bill No.
382 First Reprint (BDR 9-1067) Proposed by:
Assembly Committee on Judiciary Amends:
Summary:
No Title:
Yes Preamble:
No Joint Sponsorship:
No Digest:
Yes ASSEMBLY ACTION Initial and Dat| SENATE ACTION Initial and Date Adopted Lost | Adopted Lost Concurred In Not | Concurred In Not Receded Not | Receded Not EXPLANATION:
Matter in (1) blue bold italics is new language in the original bill;
(2) variations of green bold underlining is language proposed to be added in this amendment;
(3) red strikethrough is deleted language in the original bill;
(4) purple double strikethrough is language proposed to be deleted in this amendment;
(5) orange double underlining is deleted language in the original bill proposed to be retained in this amendment.
MNM/BAW - Date:
5/16/2019 S.B.
No.
382—Revises provisions relating to real property.
(BDR 9-1067) Page 1 of 40 *A_SB382_R1_721* Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 3 SENATE BILLN O.
382–SENATOR C ANNIZZARO M ARCH 20,2019 _______________ Referred to Committee on Judiciary SUMMARY—Revises provisions relating to real property.
(BDR 9-1067) FISCAL NOTE:
Effect on Local Government:
No.
Effect on the State:
No.
~ EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
107.015) Section 1 of this bill adds additional definitions to existing law that are currently found in various provisions governing deeds of trust.
Existing law sets forth various definitions that apply to deeds of trust.
Sections 7-21, 24- and 32 of this bill make conforming changes.
(NRS 107.015) Section 1 of this bill adds additional definitions to existing law that are currently found in various provisions governing deeds of trust.
Sections 7-21, 24-26 and 32 of this bill make conforming changes.
Existing law provides the manner in which parties to a deed of trust may set out certain amounts for statutory covenants.
Existing law provides the manner in which parties to a deed of trust may set out certain parties failed to set out these amounts.
Existing law does not provide the amounts that apply if such parties failed to set out these amounts.
(NRS 107.040) Section 5 of this bill provides theuch amounts that apply if such parties fail to set out these amounts.
(NRS 107.040) Section 5 of this bill provides the amounts that apply if such parties fail to set out these amounts.
Existing law requires a lessee to record a notice and either establish a construction disbursement account or record a surety bond before the lessee may cause a work of improvement to be constructed, altered or repaired upon the property that lessee is leasing.
Existing law requires a lessee to record a notice and either establish a construction disbursement account or record a surety bond before the lessee may cause a work of improvement to be constructed, altered or repaired upon the construction disbursement account is established, each person who provided a work of improvement has a lien upon the funds in the account for an amount equal to the amount owed.
(NRS 108.2403) Existing law provides that if a construction disbursement account is established, each person who provided a work of improvement has a lien upon the funds in the account for an amount equal to the amount owed.
Existing law prohibits a mortgage of real property from being deemed a conveyance so as to enable the owner of the mortgage to take possession of the real property without a foreclosure and sale.
Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 4 Existing law prohibits a mortgage of real property from being deemed a conveyance so as to enable the owner of the mortgage to take possession of the real property without a foreclosure and sale.
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relate to real property.
property.
Existing law prohibits the county recorder from recording with respect to real property any deed that does not contain the name and address of 80th Session (2019) – 2 – the person for whom a statement of the taxes assessed on the real property is mailed.
Existing law prohibits the county recorder from recording with respect to realto real property any deed that does not contain the name and address of the person for whom a statement of the taxes assessed on the real property is mailed.
Existing law prohibits an amendment, without the unanimous consent of the units’ owners, from changing:
Existing law prohibits an amendment, without the unanimous consent of the unit;
(1) the boundaries of any unit;
(2) the allocated interests of a unit;
(NRS 116.2117) Section 30 of this bill prohibits an amendment, without the unanimous consent of the units’ owners, from changing:
(NRS 116.2117) Section 30 of this billa prohibits an amendment, without the unanimous consent of the units’ owners, from changing:
At least 10 days action, the association shall provide a written statement to the units’ owners that includes certain information.
At least 10 days before an association commences or seeks to ratify the commencement of a civil action, the association shall provide a written statement to the units’ owners that includes certain information.
Existing law creates the Account for Foreclosure Mediation Assistance in the State General Fund and requires that the money in the Account be expended only for the purpose of supporting a program of foreclosure mediation and developing and maintaining an Internet portal for the program.
Existing law creates the Account for Foreclosure Mediation Assistance in the State purpose of supporting a program of foreclosure mediation and developing andr the maintaining an Internet portal for the program.
EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
80th Session (2019) – 3 – 1.
1.
2.
Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 5 2.
80th Session (2019) – 4 – 13.
13.
No security interest in or lien on [shares of] the ownership is effective unless the instrument which purports to create theation interest or lien encumbers the proprietary lease to which the [shSec.
No security interest in or lien on [shares of] the ownership interest or votes in a cooperative [housing corporation] association is effective unless the instrument Assembly Amendment No.
4.wneNRS 107.030 is hereby amended to read as follows:
721 to Senate Bill No.
382 First Reprint Page 6 which purports to create the interest or lien encumbers the proprietary lease to which the [shares] ownership interest and votes pertain.
Sec.
4.
NRS 107.030 is hereby amended to read as follows:
COVENANT NO .
C OVENANT N O.
COVENANT NO .
C OVENANT NO .
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;
That the grantor will at all times keep the buildings and improvements which are now or shall hereafter be 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;
COVENANT N O.
C OVENANT N O.
COVENANT N O.
C OVENANT N O.
COVENANT N O.
C OVENANT N O.
COVENANT N O.
C OVENANT N O.
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:
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 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 Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 7 discretion it shall find necessary to sell, in order to accomplish the objects of these trusts, in the manner following, namely:
COVENANT N O.
C OVENANT N O.
That the trustee, upon such sale, shall 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 apply the proceeds of the sale thereof in payment, firstly, of thed shall expenses of such sale, together with the reasonable expenses of the trust, including counsel fees, in an amount equal to ................
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 the expenses of such sale, together with the reasonable expenses of the trust, including counsel fees, in an amount equal to ................
80th Session (2019) – 7 – 8.
COVENANT N O.
C OVENANT NO .
8.
COVENANT N O .
C OVENANT NO .
Upon the recording of such executed and with all the title, interest, powers, duties and trusts in the premises vested in or conferred upon the original trustee.
Upon the recording of such executed and 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 request of the beneficiary, and all of the trustee’s acts thereunderhe 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.
If there be Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 8 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 thereunder 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.
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.
2,” and set out thereafter the amount 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.
(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;
(1) Two times the amount of the original obligation or debt secured by the deed of trust plus any principal amounts, including, without limitation, advances, indicated in a recorded amendment thereto;
or (2) One-and-a-half times the total amount computed pursuant to subparagraph (1) plus any accrued interest on that amount;
or Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 9 (2) One-and-a-half times the total amount computed pursuant to subparagraph (1) plus any accrued interest on that amount;
(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 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;
(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 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;
Not earlier than 30 days after the recording of the surety bond and declaration pursuant to subsections 1, 2 and 3, delivery to the trustee of the fees charged by the trustee for the preparation, execution or recordation of a reconveyance pursuant to subsection 7 of NRS 107.077, plus costs incurred by the trustee, and a demand for reconveyance under NRS 107.077, the trustee shall execute and record or cause to be recorded a reconveyance of the deed of trust pursuant to NRS 107.077, unless the trustee has received a written objection to the reconveyance of the deed of trust from the beneficiary of record within 30 days after the recording of the surety bond and declaration pursuant to subsections 1, 2 and 3.
Not earlier than 30 days after the recording of the surety bond and declaration pursuant to subsections 1, 2 and 3, delivery to the trustee of the fees charged by the trustee for the preparation, execution or recordation of a reconveyance pursuant to subsection 7 of NRS 107.077, plus costs incurred by the trustee, and a demand for reconveyance under NRS 107.077, the trustee shall execute and record or cause to be recorded a reconveyance of the deed of trust pursuant to NRS 107.077, unless the trustee has received a written objection to the reconveyance of the deed of trust from the beneficiary of record within 30 days after the recording of the surety bond and declaration pursuant to subsections 1, 2 Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 10 and 3.
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.
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 abandoned for the purposes of chapter 120A of NRS.
and (e) The surety bond required by this section is for a period of not less than 5 years.
and Assembly Amendment No.
80th Session (2019) – 12 – 9.
721 to Senate Bill No.
382 First Reprint Page 11 (e) The surety bond required by this section is for a period of not less than 5 years.
9.
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;
(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;
(4) It appears, after reasonable inquiry, that there are no children enrolled in school residing at the address of the residential real property;
Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 12 (4) It appears, after reasonable inquiry, that there are no children enrolled in school residing at the address of the residential real property;
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;
(IV) The residential real property has been stripped of copper or other materials, or interior fixtures to the property have been removed;
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.
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 Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 13 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:
(a) In the case of any deed of trust [agreement] coming into force:
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.
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 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 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;
(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 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 Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 14 certified mail to the last known address of the trustor and any other person entitled to such notice pursuant to this section;
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.
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 county where the sale took place within 5 days after commencement of the action.
(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;
Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 15 (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;
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.
Within 10 days after the 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 (2) The development and maintenance of an Internet portal for a program of foreclosure mediation pursuant to subsection [18] of NRS 107.086.
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.
80th Session (2019) – 19 – 14.
14.
The beneficiary, the successor in interest of the beneficiary or the trustee who causes to be recorded the notice of default and election to sell shall not charge the grantor or the successor in interest of the grantor any portion of any fee required to be paid pursuant to subsection 13.
The beneficiary, the successor in interest of the beneficiary or the trustee who causes to be recorded the notice of default and election to sell shall not charge Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 16 the grantor or the successor in interest of the grantor any portion of any fee required to be paid pursuant to subsection 13.
(a) In the case of any deed of trust [agreement] which concerns owner-occupied housing , [as defined in NRS 107.086,] 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 that commences in the manner and subject to the requirements described in subsection 2 and expires 5 days before the date of sale, failed to make good the deficiency in performance or payment.
(a) In the case of any deed of trust [agreement] which concerns owner- occupied housing , [as defined in NRS 107.086,] 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 that commences in the manner and subject to the requirements described in subsection 2 and expires 5 days before the date of sale, failed to make good the deficiency in performance or payment.
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 80th Session (2019) – 20 – business records of the beneficiary, the successor in interest of the beneficiary or the servicer of the obligation or debt secured by the deed of trust, which business records must meet the standards set forth in NRS 51.135:
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 business records of the beneficiary, the successor in interest of the beneficiary or the servicer of the obligation or debt secured by the deed of trust, which business records must meet the standards set forth in NRS 51.135:
(IV) The amount of accrued interest and late charges;
Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 17 (IV) The amount of accrued interest and late charges;
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).
and (VI) Contact information for obtaining the most current amounts due and the local or toll-free telephone number described in subparagraph (4).
(a) If the property is subject to the requirements of NRS 107.400 to 107.560, inclusive, contain the declaration required by subsection of NRS 107.510;
(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.
and (c) Comply with the provisions of NRS 107.087.
(a) “Residential foreclosure” means the sale of a single-family residence under a power of sale granted by this section.
Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 18 (a) “Residential foreclosure” means the sale of a single-family residence under a power of sale granted by this section.
(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 § of the Home Ownership and Equity Protection Act of 1994, 15 U.S.C.
(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) 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 the grantor or the person who holds the title of record a notice in the form described in subsection 3;
NOTICE YOU ARE IN DANGER OF LOSING YOUR HOME! Your home loan is being foreclosed.
Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 19 NOTICE YOU ARE IN DANGER OF LOSING YOUR HOME! 4 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.
7 Consumer Credit Counseling _______________ The Attorney General __________________ The Division of Mortgage Lending _____ The Division of Financial Institutions ________________ Legal Services ______________________ Your Lender ___________________ Nevada Fair Housing Center ________________ 4.
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;
(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 pursuant to this section and one envelope addressed to the trustee and one envelope addressed to Home Means Nevada, Inc., or its successor organization, which the grantor or the person who holds the title of record may use to comply with the provisions of subsection 3;
and Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 20 (5) A form upon which the grantor or the person who holds the title of record may indicate an election to waive mediation pursuant to this section and one envelope addressed to the trustee and one envelope addressed to Home Means Nevada, Inc., or its successor organization, which the grantor or the person who holds the title of record may use to comply with the provisions of subsection 3;
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.
or (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 person who holds the title of record satisfies the requirements of this subsection to participate in mediation pursuant to this section, no further action may be taken to exercise the power of sale until the completion of the mediation.
If the grantor or person who holds the title of record satisfies the requirements of this Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 21 subsection to participate in mediation pursuant to this section, no further action may be taken to exercise the power of sale until the completion of the mediation.
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 court his or her share of the fee established pursuant to subsection 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.
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 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 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.
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.
Home 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.
Upon receipt of the certificate provided to the trustee by Home Means Nevada, Inc., or its successor organization, pursuant to subsection 4, 7 or 8, if the property is located within a common-interest community, the trustee shall, not later than 10 days after receipt of the certificate, notify the unit-owners’ association of the existence of the certificate.
Upon receipt of the certificate provided to the trustee by Home Means Nevada, Inc., or its successor organization, pursuant to subsection 4, 7 or 8, if the property is located within a common-interest community, the trustee shall, not later Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 22 than 10 days after receipt of the certificate, notify the unit-owners’ association of the existence of the certificate.
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;
(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 (c) Authorize notification by electronic transmission at each stage of the process of foreclosure mediation.
and Assembly Amendment No.
721 to Senate Bill No.
382 First Reprint Page 23 (c) Authorize notification by electronic transmission at each stage of the process of foreclosure mediation.
80th Session (2019) – 30 – (a) A report concerning the program of foreclosure mediation and the operational and financial status of Home Means Nevada, Inc., or its successor organization;
(a) A report concerning the program of foreclosure mediation and the operational and financial status of Home Means Nevada, Inc., or its successor organization;
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 trust, by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission.
and (4) Serves a copy of the petition upon Home Means Nevada, Inc., or its successor organization, and the beneficiary of the deed of trust, by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission.
Home Means Nevada, Inc., or its successor organization, shall notify every other person with an interest [as defined in NRS 107.090,] by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission, of the petition of the mortgagor, grantor or person who holds the title of record to participate in mediation.
Home Means Nevada, Inc., or its successor organization, shall notify every other person with an interest [as defined in NRS 107.090,] by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission, Assembly Amendment No.
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80th Session (2019) – 32 – 6.
6.
2.
Assembly Amendment No.
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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.
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 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.
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 Revised Statutes.ance with chapter 118A of the Nevada begin against you after you have been given a notice tomay surrender.
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, in accordance with chapter 118A of the Nevada Revised Statutes.
Under the Nevada Revised Statutes eviction proceedings may begin against you after you have been given a notice to surrender.
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;
(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;
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.
Assembly Amendment No.
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382 First Reprint Page 26 2 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.
Under the Justice Court Rules of Civil Procedure:
9 Under the Justice Court Rules of Civil Procedure:
As used in this section, “residential foreclosure” has the meaning ascribed to it in NRS 107.0805.] 80th Session (2019) – 35 – Sec.
As used in this section, “residential foreclosure” has the meaning ascribed to it in NRS 107.0805.] Sec.
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.
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 Assembly Amendment No.
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382 First Reprint Page 27 request for a copy of the deed upon sale of the unit pursuant to a deed of trust.
80th Session (2019) – 36 – [6.] 5.
[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 days after the trustee records the deed upon the sale of the unit.
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.
80th Session (2019) – 37 – (a) The required notice is given at least 15 days before the later of:
(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 of NRS 107.0805;
(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;
and (b) Receives from the applicable governmental entity a certification pursuant to subsection 4.
and Assembly Amendment No.
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382 First Reprint Page 28 (b) Receives from the applicable governmental entity a certification pursuant to subsection 4.
The designee and 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.
The designee and 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 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.
A beneficiary who elects to use an expedited procedure for the exercise of the trustee’s power of sale pursuant to NRS 107.080 must include, or cause to be included, with the notice of default and election to sell recorded pursuant to subsection 2 of NRS 107.080 an affidavit setting forth the facts supporting the determination that the real property is abandoned residential property and the certification provided to the beneficiary pursuant to subsection 4.
A beneficiary who elects to use an expedited procedure for the exercise of the trustee’s power of sale pursuant to NRS 107.080 must include, or cause to be included, with the notice of default and election to sell recorded pursuant to subsection 2 of NRS 107.080 an affidavit setting forth the facts supporting the Assembly Amendment No.
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80th Session (2019) – 39 – (b) State that, upon information and belief of the beneficiary after investigation by the beneficiary or its agent, the property is abandoned residential property;
(b) State that, upon information and belief of the beneficiary after investigation by the beneficiary or its agent, the property is abandoned residential property;
Chapter 7, 11, 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.
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 the injunction.
(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 the injunction.
As used in this section, “sale in lieu of a foreclosure sale” has the meaning ascribed to it in NRS 40.429.] Sec.
As used in this section, “sale in lieu of a foreclosure sale” has the meaning ascribed to it in NRS 40.429.] Assembly Amendment No.
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107.460 The provisions of NRS 107.400 to 107.560, inclusive, do not apply to a financial institution, as defined in NRS 660.045, that, during its immediately preceding annual reporting period, as established with its primary regulator, has foreclosed on 100 or fewer real properties located in this State which constitute owner- occupied housing .
107.460 The provisions of NRS 107.400 to 107.560, inclusive, do not apply to a financial institution, as defined in NRS 660.045, that, during its immediately preceding annual reporting period, as established with its primary regulator, has foreclosed on 100 or fewer real properties located in this State which constitute owner-occupied housing .
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.
(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.
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 days after the date on which the notice of waiver is recorded pursuant to this subsection.
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.
80th Session (2019) – 42 – (a) The copy of the complaint served on the mortgagor must include a separate document containing:
Assembly Amendment No.
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382 First Reprint Page 31 (a) The copy of the complaint served on the mortgagor must include a separate document containing:
The judicial foreclosure action must be stayed until the 80th Session (2019) – 43 – completion of the mediation.
The judicial foreclosure action must be stayed until the completion of the mediation.
The court may issue an order imposing such sanctions against the plaintiff or the representative as the court determines appropriate, including, without limitation, requiring a loan modification in the manner determined proper by the court.
The court may issue an order imposing such sanctions against the plaintiff or the representative as the court Assembly Amendment No.
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(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;
(a) The mortgagor 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;
80th Session (2019) – 45 – (a) A legal description of the environmentally impaired real collateral;
(a) A legal description of the environmentally impaired real collateral;
(b) A statement that the secured lender intends to proceed against the debtor under the applicable paragraph of subsection 1;
Assembly Amendment No.
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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.
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 amount of the reserves which may be held in accordance with federal guidelines.
If, upon completion of the analysis, it is determined that the amount of money held by the lender in the account, together with anticipated future monthly contributions to the account to be credited to the account before the dates items are due on the account, exceed the amount of money required to pay the items when due, the lender shall, not later than 30 days after completion of its annual review of the account, notify the borrower:
If, upon completion of the analysis, it is determined that the amount of money held by the lender in the account, together with anticipated future monthly contributions to the account to be credited to the account before the dates items are due on the account, exceed the amount of money required to pay the items when Assembly Amendment No.
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80th Session (2019) – 47 – 7.
7.
A lender who violates any provision of subsections 4, 5 and is liable to the borrower for a civil penalty of not more than $1,000.
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 of NRS.
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.
80th Session (2019) – 48 – (c) Warranty deed;
(c) Warranty deed;
or (d) Trustee’s deed upon sale, unless the document being recorded contains the name and address of the person to whom a statement of the taxes assessed on the real property is to be mailed.
or (d) Trustee’s deed upon sale, Assembly Amendment No.
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382 First Reprint Page 35  unless the document being recorded contains the name and address of the person to whom a statement of the taxes assessed on the real property is to be mailed.
80th Session (2019) – 49 – 4.
4.
(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;
(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 Assembly Amendment No.
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(II) NRS 116.31083 and 116.31152, unless the limited- purpose association is created for a rural agricultural residential common-interest community;
(II) NRS 116.31083 and 116.31152, unless the limited-purpose association is created for a rural agricultural residential common-interest community;
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.
and (5) Shall not enforce any restrictions concerning the use of units by the units’ owners, unless the limited-purpose association is created for a rural agricultural residential common-interest community.
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;
Assembly Amendment No.
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382 First Reprint Page 37 (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;
The provisions of chapters 117 and 278A of NRS do not apply to common-interest communities.
The provisions of chapters 117 and 278A of NRS do not apply to common- interest communities.
(1) The landscape of the common elements of a common- interest community;
(1) The landscape of the common elements of a 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 Session (2019) – 52 – for all amendments or for specified subjects of amendment.
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 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 year after the amendment is recorded.
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.
Except to the extent expressly permitted or required by other provisions of this chapter, no amendment may change the boundaries of any unit [,] or change the allocated interests of a unit [or change the uses to which any unit is restricted,] in the absence of unanimous consent of only those units’ owners whose units are affected and the consent of a majority of the owners of the remaining units.
Except to the extent expressly permitted or required by other provisions of this chapter, no amendment may change the boundaries of any unit [,] or change the allocated interests of a unit [or change the uses to which any unit is restricted,] in Assembly Amendment No.
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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 mail, return receipt requested, to the address for notice provided by the holder, insurer or guarantor in a prior written request for notice.
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 proposed amendment to the holder, insurer or guarantor, by certified mail, return receipt requested, to the address for notice provided by the holder, insurer or guarantor in a prior written request for notice.
(b) An explanation of the potential benefits of the civil action and the potential adverse consequences if the association does not commence the action or if the outcome of the action is not favorable to the association;
Assembly Amendment No.
and 80th Session (2019) – 54 – (c) All disclosures that are required to be made upon the sale of the property.
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382 First Reprint Page 39 (b) An explanation of the potential benefits of the civil action and the potential adverse consequences if the association does not commence the action or if the outcome of the action is not favorable to the association;
and (c) All disclosures that are required to be made upon the sale of the property.
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.
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 notice of time and place of sale, addressed to each person described in subsection 2.
2.
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~~~~~ 19 80th Session (2019)