Amendment vs bill Amendment 91 vs Enrolled

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Assembly Bill No.
Session (81st) A AB237 91 Amendment No.
237–Assemblywoman Jauregui CHAPTER..........
91 Assembly Amendment to Assembly Bill No.
237 (BDR 10-22) 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.
DP/BAW - Date:
4/12/2021 A.B.
No.
237—Revises various provisions relating to real property.
(BDR 10-22) Page 1 of 26 *A_AB237_91* Assembly Amendment No.
91 to Assembly Bill No.
237 Page 3 A SSEMBLY BILLN O .
237–ASSEMBLYWOMAN JAUREGUI M ARCH 11,2021 _______________ Referred to Committee on Judiciary SUMMARY—Revises various provisions relating to real property.
(BDR 10-22) FISCAL NOTE:
Effect on Local Government:
No.
Effect on the State:
Yes.
~ EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
establishing a process for the Real Estate Division of the Department of Business and Industry to investigate complaints alleging violations of provisions governing certain fees which may be imposed or charged by a unit-owners’ association for a common-interest community;
[prohibiting a unit-owners’ association for a common-interest community from charging or collecting any fee, fine, assessment or cost other than those that the association is expressly authorized or required by statute to charge or collect;] establishing a process for the Commission for Common-Interest Communities and Condominium Hotels to investigate complaints alleging violations of provisions governing certain fees which may be imposed or charged by a unit-owners’ association for a common- interest community;
prohibiting a unit-owners’ association from imposing or charging certain fees other than or in excess of those that the association is expressly authorized or required by statute to impose or charge;
prohibiting a unit- owners’ association from imposing or charging certain fees other than or in excess of those that the association is expressly authorized or required by statute to impose or charge;
Legislative Counsel’s Digest:
Assembly Amendment No.
Existing law authorizes a unit-owners’ association for a common-interest preparing a certificate containing certain information which is required to benit and provided by a unit’s owner or his or her authorized agent to a purchaser in a resale package.
91 to Assembly Bill No.
(NRS 116.3102, 116.4109) Section 5.5 of this bill:
237 Page 4 Legislative Counsel’s Digest:
Existing law authorizes a unit-owners’ association for a common-interest community to charge certain fees [, fines, assessments and costs, including, without limitation, fees for performing certain services, charges for late payment of assessments, fines for violations of the governing documents of the association, inspection fees and fees to cover the cost of collecting past due obligations.] for opening or closing a file relating to a unit and by a unit’s owner or his or her authorized agent to a purchaser in a resale package.ded (NRS 116.3102, [116.310312, 116.310313)] 116.4109) Section 5.5 of this bill:
and (2) prohibits the imposition of a fee bill:
and (2) prohibits the imposition of a fee for those services other than or in excess of the enumerated fees.
(1) establishes a statutory maximum fee which may be charged for a certificateis containing certain information which is required in a resale package;
Section 7.2 of this bill:
and (2) prohibits the imposition of a fee for providing such a certificate or related services other than or in excess of the authorized fees.
(1) establishes a statutory maximum fee which may be charged for a certificate containing certain information which is required in a resale package;
Section 1.5 of this bill establishes a process for the Real Estate Division of the Department of Business and Industry to investigate complaints alleging violations of the fee provisions and imposes conforming changes to indicate the placement of section 1.5 within the Nevada Revised Statutes.
and (2) prohibits the imposition of a fee for providing such a certificate or related services other than or in excess of the enumerated fees.
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Existing law provides that chapter 116 of NRS, which pertains to common- interest ownership, generally applies to all common-interest communities created - 81st Session (2021) – 2 – within this State, however the provisions of chapter 116 of NRS do not require a common-interest community created before January 1, 1992, to comply with certain provisions governing the creation, alteration and termination of common- interest communities.
Section [1] 1.5 of this bill [prohibits a unit-owners’ association from charging or collecting any fee, fine, assessment or cost other than those that the association is expressly authorized or required by statute to charge or collect.
(NRS 116.1201) Existing law also provides that the provisions of chapter 116 of NRS do not apply to nonresidential condominiums or nonresidential planned communities except in certain circumstances, including only certain provisions governing the creation, alteration and termination of common-interest communities and certain other provisions apply to the condominium or planned community.
Section 3] establishes a process for the Commission for Common-Interest Communities and Condominium Hotels to investigate complaints alleging violations of the fee provisions make conforming [change] changes to indicate the placement of section [1] 1.5 within thees a] Nevada Revised Statutes.
(NRS 116.12075, 116.12077) Sections 2, 4 and 5 of this bill revise such provisions to include a reference to all provisions governing the creation, alteration and termination of common-interest communities.
Existing law provides that chapter 116 of NRS, which pertains to common-interest ownership, generally applies to all common-interest communities created within this State, however the provisions of chapter 116 of NRS do not require a common-interest community created before January 1, 1992, to comply with certain provisions governing the creation, alteration and termination of common-interest communities.
Existing law authorizes a unit’s owner, his or her authorized agent or the holder of a security interest on the unit to request a statement of demand from an association, which the association is required to provide not later than 10 days after receipt of the request.
(NRS 116.1201) Existing law also provides that the provisions of chapter 116 of NRS do not apply to nonresidential condominiums or nonresidential planned communities except in certain circumstances, including when the declaration of such a condominium or planned community provides that only certain provisions governing the creation, alteration and termination of common-interest communities and certain other provisions apply to the condominium or planned community.
(NRS 116.12075, 116.12077) Sections 2, 4 and 5 of this bill revise such provisions to include interest communities.ovisions governing the creation, alteration and termination of common- Existing law authorizes a unit’s owner, his or her authorized agent or the holder of a security interest on the unit to request a statement of demand from an association, which the association is required to provide not later than 10 days after receipt of the request.
Existing law generally requires a unit’s owner whose unit is being sold, or his certain information.
Existing law generally requires a unit’s owner whose unit is being sold, or his or her authorized agent, to provide to a purchaser a resale package containing certain information.
Existing law requires an association, upon request by a unit’s owner or his or her authorized agent, to provide to the unit’s owner or his or her authorized agent certain documents for inclusion in a resale package, including a certificate that contains information necessary to enable the unit’s owner to provide information required to be included in the resale package.
Existing law requires an association, upon request by a unit’s owner or his or her authorized inclusion in a resale package, including a certificate that contains information necessary to enable the unit’s owner to provide information required to be included in the resale package.
Existing law establishes certain specific requirements for providing notice of a sale of property on execution and additional requirements for a sale of property that is a residential foreclosure, which is the sale by foreclosure of a single family residence comprised of not more than four units.
Existing law establishes certain specific requirements for providing notice of a sale of property on execution and additional requirements for a sale of property that is a residential foreclosure, which is the sale by foreclosure of a single family residence comprised of not Assembly Amendment No.
91 to Assembly Bill No.
237 Page 5 more than four units.
(1) each person who has recorded a request for a copy of a notice of default or notice of sale with respect to in the real property whose interest or claimed interest is subordinate to theterest mortgage or other lien being foreclosed;
(1) each person who has recorded a request for a copy of a notice of default or notice an interest in the real property whose interest or claimed interest is subordinate to then with mortgage or other lien being foreclosed;
(NRS 39.180, 39.190) Section 10 of this bill instead requires a court, to the extent necessary to grant appropriate relief, to ascertain the - 81st Session (2021) – 3 – company in which the title company certifies that it has issued a guarantee for thetle benefit of the plaintiff or defendant and that lists the names of each owner of record of the property and each holder of record of certain security interests in the property.
(NRS 39.180, 39.190) Section 10 of this bill instead requires a court, to the extent necessary to grant appropriate relief, to ascertain the state of the title to the property to be partitioned pursuant to the report of a title company in which the title company certifies that it each owner of record of the property and each holder of record of certain security interests inf the property.
Existing law generally provides that there can only be one action for the recovery of any debt or the enforcement of any right secured by a mortgage or other lien upon real estate, but specifies that such an action does not include any act or Commercial Code.
Existing law generally provides that there can only be one action for the recovery of any debt or the enforcement of any right secured by a mortgage or other lien upon real estate, but specifies that such an action does not include any act or proceeding for the exercise of any right or remedy authorized by the Uniform Commercial Code.
Sections 13 and 14 of this bill remove obsolete provisions regarding certain mortgages of personal property or crops from the provisions of law relating to the recording of assignments of mortgages and the subordination or waiver of priority of mortgages and other interests in real property.
Sections 13 and 14 of this bill remove obsolete provisions regarding certain mortgages of personal property or crops from the provisions of law relating to the recording of assignments real property.
Section 14 also provides that an instrument that subordinates or waives priority of a mortgage or deed of trust of, lien upon or interest in real property is not enforceable in connection with a foreExisting law authorizes a deed of trust to adopt by reference certain covenants, agreements, obligations, rights and remedies.
Section 14 also provides that an instrument that subordinates or waives priority of a mortgage or deed of trust of, lien upon or interest in real property is not enforceable in connection with a foreclosure or a trustee’s sale until it is recorded.
Existing law authorizes a deed of trust to adopt by reference certain covenants, agreements, obligations, rights and remedies.
Existing law requires every owner of property who records a notice of waiver of owners’ rights with the county recorder of the county in which the property is located before the commencement of construction of a work of improvement on the property to serve such notice on any prime contractor of the work of improvement and all other lien claimants who give the owner a notice of right to lien within 10 notice of waiver is recorded with the county recorder.
Existing law requires every owner of property who records a notice of waiver of owners’ rights with the county recorder of the county in which the property is located before the commencement of construction of a work of improvement on the property to serve such notice on any prime contractor of the work of improvement and all other lien claimants who give the owner a notice of right to lien within 10 days after:
(NRS 108.2405) Section 16h the of this bill provides that the 10-day time limitation applies to whichever of the two events occurs later.
(1) the owner’s receipt of a notice to lien;
EXPLANATION – Matter in bolded italics is new;
108.2405) Section 16 of this bill provides that the 10-day time limitation applies to whichever of the two events occurs later.
matter between brackets [omitted material] is material to be omitted.
(Deleted by amendment.) Sec.
[Chapter 116 of NRS is hereby amended by adding thereto a new section to read as follows:
An association shall not charge or collect any fee, fine, assessment or cost other than those that the association is expressly authorized or required by statute to charge or collect, including, without limitation, any fee, fine, assessment or cost that a statute authorizes or requires to be established by regulation.] (Deleted by amendment.) Sec.
1.
Assembly Amendment No.
Notwithstanding the provisions of NRS 116.745 to 116.795, inclusive, a person who is aggrieved by an alleged violation of subsection 6 of NRS 116.3102 or subsection 8 of NRS 116.4109 may file with the Division a written complaint that sets forth the facts constituting the alleged violation.
91 to Assembly Bill No.
237 Page 6 1.
Notwithstanding the provisions of NRS 116.745 to 116.795, inclusive, a person who is aggrieved by an alleged violation of subsection 6 of NRS 116.3102 or subsection 8 of NRS 116.4109 may file with the Commission a written complaint that sets forth the facts constituting the alleged violation.
- 81st Session (2021) – 4 – (a) Review a complaint filed pursuant to subsection 1 in a timely manner.
2.
The Commission shall:
(a) Review a complaint filed pursuant to subsection 1 in a timely manner.
Except as otherwise provided in this section and NRS 116.1203, this chapter applies to all common-interest com2.
Except as otherwise provided in this section and NRS 116.1203, this chapter applies to all common-interest communities created within this State.
This chapter does not apply to:.
2.
This chapter does not apply to:
(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 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;
(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;
created for maintaining the landscape of the common elements ofon is the common-interest community;
(III) NRS 116.31073, if the limited-purpose association is created for maintaining the landscape of the common elements of the common-interest community;
and - 81st Session (2021) – 5 – units by the units’ owners, 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 created for a rural agricultural residential common-interest community.
(d) Except as otherwise provided in this chapter, time shares governed by the provisions of chapter 119A of NRS.
Assembly Amendment No.
91 to Assembly Bill No.
237 Page 7 (d) Except as otherwise provided in this chapter, time shares governed by the provisions of chapter 119A of NRS.
3.
The provisions of this chapter do not:
(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 board, the voting rights of the units’ owners may not be exercised by del(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;
(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 board, the voting rights of the units’ owners may not be exercised by delegates or representatives;
(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;
- 81st Session (2021) – 6 – 4.
4.
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.
(a) The criteria for determining whether an association, a satisfies the requirements for an exemption or limited exemption from any provision of this chapter;
(a) The criteria for determining whether an association, a limited-purpose association or a common-interest community satisfies the requirements for an exemption or limited exemption from any provision of this chapter;
(1) The landscape of the common elements of a common- interest community;
(1) The landscape of the common elements of a common-interest community;
(Deleted by amendment.) Sec.
[NRS 116.1203 is hereby amended to read as follows:
116.1203 1.
Except as otherwise provided in subsections 2 and 3, if a planned community contains no more than 12 units and is not subject to any developmental rights, it is subject only to NRS 116.1106 and 116.1107 unless the declaration provides that this entire chapter is applicable.
2.
The provisions of NRS 116.12065 and the definitions set forth in NRS 116.005 to 116.095, inclusive, to the extent that the definitions are necessary to construe any of those provisions, apply to a residential planned community containing more than 6 units.
3.
Except for NRS 116.3104, 116.31043, 116.31046 and 116.31138, the provisions of NRS 116.3101 to 116.350, inclusive, and section 1 of this act and the definitions set forth in NRS 116.005 to 116.095, inclusive, to the extent that such Assembly Amendment No.
91 to Assembly Bill No.
237 Page 8 definitions are necessary in construing any of those provisions, apply to a residential planned community containing more than 6 units.] (Deleted by amendment.) Sec.
116.2124, inclusive, and 116.3116 to 116.31168, inclusive, apply to the condominium;
(b) Only the provisions of NRS 116.001 to [116.2122,] 116.2124, inclusive, and 116.3116 to 116.31168, inclusive, apply to the condominium;
and (b) Notwithstanding NRS 116.1104 and subsection 3 of NRS 116.311, purchasers of units must execute proxies, powers of - 81st Session (2021) – 7 – attorney or similar devices in favor of the declarant regarding particular matters enumerated in those instruments.
and (b) Notwithstanding NRS 116.1104 and subsection 3 of NRS 116.311, purchasers of units must execute proxies, powers of attorney or similar devices in favor of the declarant regarding particular matters enumerated in those instruments.
The provisions of this chapter do not apply to a nonresidential use unless the declaration provides that this chapter or a part of this chapter does apply to that planned community pursuant to this section.
The provisions of this chapter do not apply to a planned community in which all units are restricted exclusively to nonresidential use unless the declaration provides that this chapter or a part of this chapter does apply to that planned community pursuant to this section.
(a) Notwithstanding NRS 116.3105, any management, maintenance operations or employment contract, lease of lease between the association and a declarant or an affiliate of a or declarant continues in force after the declarant turns over control of the association;
(a) Notwithstanding NRS 116.3105, any management, maintenance operations or employment contract, lease of recreational or parking areas or facilities and any other contract or lease between the association and a declarant or an affiliate of a declarant continues in force after the declarant turns over control of the association;
(a) Shall adopt and, except as otherwise provided in the bylaws, may amend bylaws and may adopt and amend rules and regulations.
Assembly Amendment No.
(b) Shall adopt and may amend budgets in accordance with the requirements set forth in NRS 116.31151, may collect assessments for common expenses from the units’ owners and may invest funds - 81st Session (2021) – 8 – NRS 116.311395.ion in accordance with the requirements set forth in (c) May hire and discharge managing agents and other employees, agents and independent contractors.
91 to Assembly Bill No.
237 Page 9 (a) Shall adopt and, except as otherwise provided in the bylaws, may amend bylaws and may adopt and amend rules and regulations.
(b) Shall adopt and may amend budgets in accordance with the requirements set forth in NRS 116.31151, may collect assessments for common expenses from the units’ owners and may invest funds of the association in accordance with the requirements set forth in NRS 116.311395.
(c) May hire and discharge managing agents and other employees, agents and independent contractors.
or (3) Any portion of the common-interest community that the insure or replace because the governing documents of thein, repair, association expressly make such an obligation the responsibility of the association.
or (3) Any portion of the common-interest community that the association does not own but has an obligation to maintain, repair, insure or replace because the governing documents of the association expressly make such an obligation the responsibility of the association.
(1) Common elements in a condominium or planned pursuant to NRS 116.3112;
(1) Common elements in a condominium or planned community may be conveyed or subjected to a security interest only pursuant to NRS 116.3112;
andsubjected to a security interest only (2) Part of a cooperative may be conveyed, or all or part of a cooperative may be subjected to a security interest, only pursuant to NRS 116.3112.
and (2) Part of a cooperative may be conveyed, or all or part of a cooperative may be subjected to a security interest, only pursuant to NRS 116.3112.
(j) May impose and receive any payments, fees or charges for the use, rental or operation of the common elements, other than limited common elements described in subsections 2 and 4 of NRS - 81st Session (2021) – 9 – 116.2102, and for services provided to the units’ owners, including, without limitation, any services provided pursuant to NRS 116.310312.
(j) May impose and receive any payments, fees or charges for the use, rental or operation of the common elements, other than limited common elements described in subsections 2 and 4 of NRS 116.2102, and for services provided to the units’ owners, including, without limitation, any services provided pursuant to NRS 116.310312.
(k) May impose charges for late payment of assessments pur(l) May impose construction penalties when authorized pursuant to NRS 116.310305.
(k) May impose charges for late payment of assessments pursuant to NRS 116.3115.
(l) May impose construction penalties when authorized pursuant to NRS 116.310305.
(n) May impose reasonable charges for the preparation and recordation of any amendments to the declaration or any statements of unpaid assessments, and impose reasonable fees, not to exceed the amounts authorized by NRS 116.4109, for preparing and furnishing the documents and certificate required by that section.
(n) May impose reasonable charges for the preparation and recordation of any amendments to the declaration or any statements of unpaid assessments, and Assembly Amendment No.
91 to Assembly Bill No.
237 Page 10 impose reasonable fees, not to exceed the amounts authorized by NRS 116.4109, for preparing and furnishing the documents and certificate required by that section.
of a unit.
(3) Must not be charged to both the seller and the purchaser of a unit.
Must not be charged to both the seller and the purchaser (4) Except as otherwise provided in this subparagraph and subject to the limitation set forth in subparagraph (2), may increase, on an annual basis, by a percentage equal to the percentage of increase in the Consumer Price Index (All Items) published by the United States Department of Labor for the preceding calendar year.
(4) Except as otherwise provided in this subparagraph and subject to the limitation set forth in subparagraph (2), may increase, on an annual basis, by a percentage equal to the percentage of increase in the Consumer Price Index (All Items) published by the United States Department of Labor for the preceding calendar year.
- 81st Session (2021) – 10 – State by legal entities of the same type as the association.n this (t) May direct the removal of vehicles improperly parked on property owned or leased by the association, as authorized pursuant to NRS 487.038, or improperly parked on any road, street, alley or other thoroughfare within the common-interest community in violation of the governing documents.
(s) May exercise all other powers that may be exercised in this State by legal entities of the same type as the association.
(t) May direct the removal of vehicles improperly parked on property owned or leased by the association, as authorized pursuant to NRS 487.038, or improperly parked on any road, street, alley or other thoroughfare within the common-interest community in violation of the governing documents.
or (2) Poses an imminent threat of causing a substantial adverse effect on the health, safety or welfare of the units’ owners or res(u) May exercise any other powers necessary and proper for the governance and operation of the association.
or (2) Poses an imminent threat of causing a substantial adverse effect on the health, safety or welfare of the units’ owners or residents of the common-interest community.
(u) May exercise any other powers necessary and proper for the governance and operation of the association.
(a) The association’s legal position does not justify taking any or further enforcement action;
Assembly Amendment No.
(b) The covenant, restriction or rule being enforced is, or is lik(c) Although a violation may exist or may have occurred, it is not so material as to be objectionable to a reasonable person or to justify expending the association’s resources;
91 to Assembly Bill No.
237 Page 11 (a) The association’s legal position does not justify taking any or further enforcement action;
(b) The covenant, restriction or rule being enforced is, or is likely to be construed as, inconsistent with current law;
(c) Although a violation may exist or may have occurred, it is not so material as to be objectionable to a reasonable person or to justify expending the association’s resources;
The executive board’s decision under subsection 3 not to pursue enforcement under one set of circumstances does not prevent the executive board from taking enforcement action under another - 81st Session (2021) – 11 – set of circumstances, but the executive board may not be arbitrary or capricious in taking enforcement action.
The executive board’s decision under subsection 3 not to pursue enforcement under one set of circumstances does not prevent the executive board from taking enforcement action under another set of circumstances, but the executive board may not be arbitrary or capricious in taking enforcement action.
Notwithstanding any provision of this chapter or the governing documents to the contrary, an association may not impose on the owner of any property in the common-interest communityments that is exempt from taxation pursuant to NRS 361.125.
Notwithstanding any provision of this chapter or the governing documents to the contrary, an association may not impose any assessment pursuant to this chapter or the governing documents on the owner of any property in the common- interest community that is exempt from taxation pursuant to NRS 361.125.
(a) Not authorized in paragraph (n) or (o), as applicable, of subsection 1;
(a) Not enumerated in paragraph (n) or (o), as applicable, of subsection 1;
The association has a lien on a unit for any construction penalty that is imposed against the unit’s owner unit or any fines imposed against the unit’s owner from the time the construction penalty, assessment or fine becomes due.
The association has a lien on a unit for any construction penalty that is imposed against the unit’s owner pursuant to NRS 116.310305, any assessment levied against that unit or any fines imposed against the unit’s owner from the time the construction penalty, assessment or fine becomes due.
- 81st Session (2021) – 12 – (b) A first security interest on the unit recorded before the date on which the assessment sought to be enforced became delinquent or, in a cooperative, the first security interest encumbering only the unit’s owner’s interest and perfected before the date on which the lien under this section is prior to a security interest described in this paragraph to the extent set forth in subsection 3;
(b) A first security interest on the unit recorded before the date on which the assessment sought to be enforced became delinquent or, in a cooperative, the first security interest encumbering only the unit’s owner’s interest and perfected before the date on which the assessment sought to be enforced became delinquent, except that a lien under this section is prior to a security interest described in this paragraph to the extent set forth in subsection 3;
(c) Liens for real estate taxes and other governmental assessments or charges against the unit or cooperative;
Assembly Amendment No.
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237 Page 12 (c) Liens for real estate taxes and other governmental assessments or charges against the unit or cooperative;
If federal Corporation or the Federal National Mortgage Association require a shorter period of priority for the lien, the period during which the lien is prior to all security interests described in paragraph (b) of subsection 2 must be determined in accordance with those federal regulations, except that notwithstanding the provisions of the federal regulations, the period of priority for the lien must not be less than the 6 months immediately preceding the recording of a notice of default and election to sell pursuant to paragraph (b) of subsection 1 of NRS 116.31162 or the institution of a judicial action to enforce the lien.
If federal regulations adopted by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association require a shorter period of priority for the lien, the period during which the lien is prior to all security interests described in paragraph (b) of subsection 2 must be determined in accordance with those federal regulations, except that notwithstanding the provisions of the federal regulations, the period of priority for the lien must not be less than the 6 months immediately preceding the recording of a notice of default and election to sell pursuant to paragraph (b) of subsection 1 of NRS 116.31162 or the institution of a judicial action to enforce the lien.
The amount of the costs of enforcing the association’s lien that are prior to the security interest described in paragraph (b) of - 81st Session (2021) – 13 – association, must not include more than one trustee’s sale guaranty and must not exceed:
The amount of the costs of enforcing the association’s lien that are prior to the security interest described in paragraph (b) of subsection 2 must not exceed the actual costs incurred by the association, must not include more than one trustee’s sale guaranty and must not exceed:
Notwithstanding any other provision of law, an association, or member of the executive board, officer, employee or unit’s owner of the association, acting under the authority of this chapter or the governing documents of the association, or the community manager of the association, or any employee, agent or affiliate of the common-interest community governed by the association, is not required to be licensed as a collection agency pursuant to chapter of NRS or hire or contract with a collection agency licensed pursuant to chapter 649 of NRS to collect amounts due to the association in accordance with subsection 1 before the recording of a notice of default and election to sell pursuant to paragraph (b) of subsection 1 of NRS 116.31162.
Notwithstanding any other provision of law, an association, or member of the executive board, officer, employee or unit’s owner of the association, acting under the authority of this chapter or the governing documents of the association, or the community manager of the association, or any employee, agent or affiliate of the community manager, while engaged in the management of the common-interest community governed by the association, is not required to be licensed as a collection agency pursuant to chapter 649 of NRS or hire or contract with a collection agency licensed pursuant to chapter 649 of NRS to collect amounts due to the association in accordance with subsection 1 before the recording of a notice of default and election to sell pursuant to paragraph (b) of subsection 1 of NRS 116.31162.
7.
Assembly Amendment No.
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If such an account is established, payments from the account for the same due dates as apply to payments of such assessments by a unit’s owner.
If such an account is established, payments from the account for assessments for common expenses must be made in accordance with the same due dates as apply to payments of such assessments by a unit’s owner.
- 81st Session (2021) – 14 – 10.
10.
A lien for unpaid assessments is extinguished unless a notice of default and election to sell is recorded as required by paragraph (b) of subsection 1 of NRS 116.31162, or judicial proceedings to enforce the lien are instituted, within 3 years after the ful11.
A lien for unpaid assessments is extinguished unless a notice of default and election to sell is recorded as required by paragraph (b) of subsection 1 of NRS 116.31162, or judicial proceedings to enforce the lien are instituted, within 3 years after the full amount of the assessments becomes due.
11.
(b) In a cooperative where the owner’s interest in a unit is person(1) May be foreclosed as a security interest under NRS:
(b) In a cooperative where the owner’s interest in a unit is personal property under NRS 116.1105, the association’s lien:
104.9101 to 104.9709, inclusive;
(1) May be foreclosed as a security interest under NRS 104.9101 to 104.9709, inclusive;
- 81st Session (2021) – 15 – of an amount due to an association in accordance with subsection 1 by the holder of any lien or encumbrance on a unit that is subordinate to the association’s lien under this section becomes a debt due from the unit’s owner to the holder of the lien or encumbrance.
16.
Notwithstanding any other provision of law, any payment of an amount due to an association in accordance with subsection 1 by the holder of any lien or Assembly Amendment No.
91 to Assembly Bill No.
237 Page 14 encumbrance on a unit that is subordinate to the association’s lien under this section becomes a debt due from the unit’s owner to the holder of the lien or encumbrance.
(c) Disposition by a government or governmental agency;
Except in the case of a sale in which delivery of subsection 2 of NRS 116.4101, a unit’s owner or his or herunder authorized agent shall, at the expense of the unit’s owner, furnish to a purchaser a resale package containing all of the following:
Except in the case of a sale in which delivery of a public offering statement is required, or unless exempt under subsection 2 of NRS 116.4101, a unit’s owner or his or her authorized agent shall, at the expense of the unit’s owner, furnish to a purchaser a resale package containing all of the following:
(b) A statement from the association setting forth the amount of the monthly assessment for common expenses and any unpaid obligation of any kind, including, without limitation, management - 81st Session (2021) – 16 – foreclosure fees and attorney’s fees currently due from the selling unit’s owner.
(b) A statement from the association setting forth the amount of the monthly assessment for common expenses and any unpaid obligation of any kind, including, without limitation, management fees, transfer fees, fines, penalties, interest, collection costs, foreclosure fees and attorney’s fees currently due from the selling unit’s owner.
(c) A copy of the current operating budget of the association and current year-to-date financial statement for the association, which must include a summary of the reserves of the association required by NRS 116.31152 and which must include, without limitation, a summary of the information described in paragraphs (a) to (e), inclusive, of subsection 3 of NRS 116.31152.
(c) A copy of the current operating budget of the association and current year- to-date financial statement for the association, which must include a summary of the reserves of the association required by NRS 116.31152 and which must include, without limitation, a summary of the information described in paragraphs (a) to (e), inclusive, of subsection 3 of NRS 116.31152.
(d) A statement of any unsatisfied judgments or pending legal actions against the association and the status of any pending legal actions relating to the common-interest community of which the unit’s owner has actual knowledge.
(d) A statement of any unsatisfied judgments or pending legal actions against the association and the status of any pending legal actions relating to the common- interest community of which the unit’s owner has actual knowledge.
(f) In addition to any other document, a statement describing all current and expected fees or charges for each unit, including, or penalties, interest rates on delinquent assessments, additionalrges costs for collecting past due fines and charges for opening or closing any file for each unit.
(f) In addition to any other document, a statement describing all current and expected fees or charges for each unit, including, without limitation, association fees, fines, assessments, late charges or penalties, interest rates on delinquent assessments, additional costs for collecting past due fines and charges for opening or closing any file for each unit.
2.
Assembly Amendment No.
91 to Assembly Bill No.
237 Page 15 2.
If the not entitled to:cepted a conveyance of the unit, the purchaser is (a) Cancel the contract pursuant to this subsection;
If the purchaser has accepted a conveyance of the unit, the purchaser is not entitled to:
(a) Cancel the contract pursuant to this subsection;
Within 10 calendar days after receipt of a written request by a unit’s owner or his or her authorized agent, the association shall - 81st Session (2021) – 17 – authorized agent for inclusion in the resale package:is or her (a) Copies of the documents required pursuant to paragraphs (a) and (c) of subsection 1;
Within 10 calendar days after receipt of a written request by a unit’s owner or his or her authorized agent, the association shall furnish all of the following to the unit’s owner or his or her authorized agent for inclusion in the resale package:
(a) Copies of the documents required pursuant to paragraphs (a) and (c) of subsection 1;
(b) The association may charge the unit’s owner a reasonable fee to cover the cost of preparing the certificate furnished pursuant association incurs to fulfill the requirements of this section in preparing the certificate [.
(b) The association may charge the unit’s owner a reasonable fee to cover the cost of preparing the certificate furnished pursuant to subsection 3.
Such a fee must be based on the actual cost the association incurs to fulfill the requirements of this section in preparing the certificate [.
(c) The other documents furnished pursuant to subsection 3 association is unable to provide such documents in electronic the format, the association may charge the unit’s owner a reasonable fee, not to exceed 25 cents per page for the first 10 pages, and 10 cents per page thereafter, to cover the cost of copying.
(c) The other documents furnished pursuant to subsection 3 must be provided in electronic format to the unit’s owner.
If the association is unable to provide such documents in electronic format, the association may charge the unit’s owner a reasonable fee, not to exceed 25 cents per page for the first 10 pages, and 10 cents per page thereafter, to cover the cost of copying.
- 81st Session (2021) – 18 – liable for any unpaid assessment or fee greater than the amount setis forth in the documents and certificate prepared by the association.
5.
Neither a purchaser nor the purchaser’s interest in a unit is liable for any unpaid assessment or fee greater than the amount set forth in the documents and Assembly Amendment No.
91 to Assembly Bill No.
237 Page 16 certificate prepared by the association.
The study must be made available at the business office of the association or some other suitable location within the county where the common-interest within one of those counties.it is situated in more than one county, 7.
The study must be made available at the business office of the association or some other suitable location within the county where the common-interest community is situated or, if it is situated in more than one county, within one of those counties.
7.
The amount of the fees for preparing and furnishing a statement of demand and the additional increase, on an annual basis, by a percentage equal to the percentage of increase in the Consumer Price Index (All Items) published by the United States Department of Labor for the preceding calendar year, but must not increase by more than 3 percent each year.
The amount of the fees for preparing and furnishing a statement of demand and the additional fee for furnishing a statement of demand within 3 business days may increase, on an annual basis, by a percentage equal to the percentage of increase in the Consumer Price Index (All Items) published by the United States Department of Labor for the preceding calendar year, but must not increase by more than 3 percent each year.
(a) Must set forth the amount of the monthly assessment for common expenses and any unpaid obligation of any kind, including, without limitation, management fees, transfer fees, fines, penalties, - 81st Session (2021) – 19 – interest, collection costs, foreclosure fees and attorney’s fees currently due from the selling unit’s owner;
(a) Must set forth the amount of the monthly assessment for common expenses and any unpaid obligation of any kind, including, without limitation, management fees, transfer fees, fines, penalties, interest, collection costs, foreclosure fees and attorney’s fees currently due from the selling unit’s owner;
and (b) Remains effective for the period specified in the statement of demand, which must not be less than 15 business days after the date agent of the unit’s owner or the holder of a security interest on the unit, whichever is applicable.
and (b) Remains effective for the period specified in the statement of demand, which must not be less than 15 business days after the date of delivery by the association to the unit’s owner, the authorized agent of the unit’s owner or the holder of a security interest on the unit, whichever is applicable.
(a) Not authorized in this section;
(a) Not enumerated in this section;
Unless the person who requested the statement of demand receives a replacement statement of demand, the person may rely upon the accuracy of the information set forth in the statement of amount set forth in the statement of demand constitutes full payment of the amount due from the selling unit’s owner.
Unless the person who requested the statement of demand receives a Assembly Amendment No.
91 to Assembly Bill No.
237 Page 17 replacement statement of demand, the person may rely upon the accuracy of the information set forth in the statement of demand provided by the association for the resale.
Payment of the amount set forth in the statement of demand constitutes full payment of the amount due from the selling unit’s owner.
116.745 As used in NRS 116.745 to 116.795, inclusive, and section 1.5 of this act, unless the context otherwise requires, “violation” means a violation of:
116.745 As used in NRS 116.745 to 116.795, inclusive, and section 1 of this act, unless the context otherwise requires, “violation” means a violation of:
In carrying out the provisions of NRS 116.745 to 116.795, inclusive, and section 1.5 of this act, the Division and the Ombudsman have jurisdiction to investigate and the Commission and each hearing panel has jurisdiction to take appropriate action - 81st Session (2021) – 20 – limitation:
In carrying out the provisions of NRS 116.745 to 116.795, inclusive, and section 1 of this act, the Division and the Ombudsman have jurisdiction to investigate and the Commission and each hearing panel has jurisdiction to take appropriate action against any person who commits a violation, including, without limitation:
person who commits a violation, including, without (a) Any association and any officer, employee or agent of an association.
(a) Any association and any officer, employee or agent of an association.
The jurisdiction set forth in subsection 1 applies to any officer, employee or agent of an association or any member of an exe(a) Currently holds his or her office, employment, agency or position or who held the office, employment, agency or position at the commencement of proceedings against him or her.
The jurisdiction set forth in subsection 1 applies to any officer, employee or agent of an association or any member of an executive board who commits a violation and who:
(a) Currently holds his or her office, employment, agency or position or who held the office, employment, agency or position at the commencement of proceedings against him or her.
The rights, remedies and penalties provided by NRS 116.745 to 116.795, inclusive, and section 1.5 of this act are cumulative and do not abrogate and are in addition to any other rights, remedies and penalties that may exist at law or in equity.
The rights, remedies and penalties provided by NRS 116.745 to 116.795, inclusive, and section 1 of this act are cumulative and do not abrogate and are in addition to any other rights, remedies and penalties that may exist at law or in equity.
If the Commission, a hearing panel or another agency or officer elects to take a particular action or pursue a particular inclusive, and section 1.5 of this act or another specific statute, that election is not exclusive and does not preclude the Commission, the hearing panel or another agency or officer from taking any other actions or pursuing any other remedies or penalties authorized by NRS 116.745 to 116.795, inclusive, and section 1.5 of this act or another specific statute.
If the Commission, a hearing panel or another agency or officer elects to take a particular action or pursue a particular remedy or penalty authorized by NRS 116.745 to 116.795, inclusive, and section 1 of this act or another specific statute, that election is not exclusive and does not preclude the Commission, the hearing panel or another agency or officer from taking any other actions or pursuing any other remedies or penalties authorized by NRS 116.745 to 116.795, inclusive, and section 1 of this act or another specific statute.
In carrying out the provisions of NRS 116.745 to 116.795, inclusive, and section 1.5 of this act, the Commission or a hearing - 81st Session (2021) – 21 – except to the extent necessary to prevent or remedy a violation.iation Sec.
In carrying out the provisions of NRS 116.745 to 116.795, inclusive, and section 1 of this act, the Commission or a hearing panel shall not intervene in any internal activities of an association except to the extent necessary to prevent or remedy a violation.
Assembly Amendment No.
91 to Assembly Bill No.
237 Page 18 Sec.
(b) In case of other personal property, by posting a similar notice in three public places of the township or city where the sale is to take place, not less than 5 or more than 10 days before the sale, and, in case of sale on execution issuing out of a district court, by the publication of a copy of the notice in a newspaper, if there is one in the county, at least twice, the first publication being not less than days before the date of the sale.
(b) In case of other personal property, by posting a similar notice in three public places of the township or city where the sale is to take place, not less than 5 or more than 10 days before the sale, and, in case of sale on execution issuing out of a district court, by the publication of a copy of the notice in a newspaper, if there is one in the county, at least twice, the first publication being not less than 10 days before the date of the sale.
(c) (1) Personal service upon each judgment debtor or by registered mail to the last known address of each judgment debtor and, if the property of the judgment debtor is operated as a facility licensed under chapter 449 of NRS, upon the State Board of Health;
(c) In case of real property, by:
(1) Personal service upon each judgment debtor or by registered mail to the last known address of each judgment debtor and, if the property of the judgment debtor is operated as a facility licensed under chapter 449 of NRS, upon the State Board of Health;
sum less than $500, exclusive of costs, must be given only byor any posting in three public places in the county, one of which must be the courthouse;
Notice of the sale of property on execution upon a judgment for any sum less than $500, exclusive of costs, must be given only by posting in three public places in the county, one of which must be the courthouse;
In addition to the requirements of NRS 21.140, the notice must not be defaced or removed until the transfer of title is recorded or the - 81st Session (2021) – 22 – is earlier [.] ;
In addition to the requirements of NRS 21.140, the notice must not be defaced or removed until the transfer of title is recorded or the property becomes occupied after completion of the sale, whichever is earlier [.] ;
andupied after completion of the sale, whichever (6) In the case of a foreclosure sale, depositing in the United States mail an envelope, registered or certified, return receipt requested and with postage prepaid, containing a copy of the notice, addressed to:
and (6) In the case of a foreclosure sale, depositing in the United States mail an envelope, registered or certified, return receipt requested and with postage prepaid, containing a copy of the notice, addressed to:
If the sale of property is a residential foreclosure, the notice mus(a) The physical address of the property;
If the sale of property is a residential foreclosure, the notice must include, without limitation:
and (b) The contact information of the party who is authorized to provide information relating to the foreclosure status of the property.
(a) The physical address of the property;
and Assembly Amendment No.
91 to Assembly Bill No.
237 Page 19 (b) The contact information of the party who is authorized to provide information relating to the foreclosure status of the property.
NOTICE TO TENANTS OF THE PROPERTY and a notice of sale of the property to the highest bidder has been issued.
NOTICE TO TENANTS OF THE PROPERTY Foreclosure proceedings against this property have started, and a notice of sale of the property to the highest bidder has been issued.
- 81st Session (2021) – 23 – you fail to pay rent or live up to your other obligations to the landlord.
Between now and the date of the sale, you may be evicted if you fail to pay rent or live up to your other obligations to the landlord.
(3) A hearing regarding a temporary eviction may be called as soon as 11 days after you are served with the summons and complaint;
Assembly Amendment No.
and - 81st Session (2021) – 24 – (4) A hearing regarding a permanent eviction may be called as soon as 20 days after you are served with the summons and complaint.
91 to Assembly Bill No.
execution or deliver the judgment debtor’s property to the judgment creditor if the judgment debtor or any other person entitled to notice has not been properly notified as required in this section and NRS 21.075 and 21.076.
237 Page 20 (3) A hearing regarding a temporary eviction may be called as soon as 11 days after you are served with the summons and 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.
6 4.
The sheriff shall not conduct a sale of the property on execution or deliver the judgment debtor’s property to the judgment creditor if the judgment debtor or any other person entitled to notice has not been properly notified as required in this section and NRS 21.075 and 21.076.
delivery, it shall be in view of those who attend the sale and be sold in such parcels as are likely to bring the highest price .
4.
When the sale is of personal property capable of manual delivery, it shall be in view of those who attend the sale and be sold in such parcels as are likely to bring the highest price .
When such property consists of several known lots or parcels, or of articles - 81st Session (2021) – 25 – which can be sold to advantage separately, the sheriff shall be bound to follow such directions.
When such property consists of several known lots or parcels, or of articles which can be sold to advantage separately, the sheriff shall be bound to follow such directions.
39.180 [If it appears to the court that it was]s follows:
Sec.
1.
10.
NRS 39.180 is hereby amended to read as follows:
39.180 [If it appears to the court that it was] 1.
and (b) Each holder of record of a security interest in the property to be partitioned, if the security interest was created by a mortgage or a deed of trust.
and Assembly Amendment No.
91 to Assembly Bill No.
237 Page 21 (b) Each holder of record of a security interest in the property to be partitioned, if the security interest was created by a mortgage or a deed of trust.
[Whenever such abstract is procured by the plaintiff, before the commencement of the action, the plaintiff must file with the plaintiff’s complaint a notice that an abstract of the title has been made, and is subject to the inspection and use of all the parties to the action, designating plaintiff shall have failed to procure such abstract before if the commencing the action, and any defendant shall procure the same to be made, the defendant shall, as soon as the defendant has directed it to be made, file a notice thereof in the action with the clerk of the court, stating who is making the same, and where it will be kept when finished.
[Whenever such abstract is procured by the plaintiff, before the commencement of the action, the plaintiff must file with the plaintiff’s complaint a notice that an abstract of the title has been made, and is subject to the inspection and use of all the parties to the action, designating therein where the abstract will be kept for inspection.
But if the plaintiff shall have failed to procure such abstract before commencing the action, and any defendant shall procure the same to be made, the defendant shall, as soon as the defendant has directed it to be made, file a notice thereof in the action with the clerk of the court, stating who is making the same, and where it will be kept when finished.
39.190 The [abstract] guarantee mentioned in NRS 39.180 [may be made by any competent searcher of records, and need not be certified by the recorder or other officer, but instead thereof it - 81st Session (2021) – 26 – must be verified by the affidavit of the person making it, to the effect that the person believes it to be correct;
39.190 The [abstract] guarantee mentioned in NRS 39.180 [may be made by any competent searcher of records, and need not be certified by the recorder or other officer, but instead thereof it must be verified by the affidavit of the person making it, to the effect that the person believes it to be correct;
40.4302.
Sec.
N1.
12.
NRS 40.430 is hereby amended to read as follows:
40.430 1.
If a deficiency is made good pursuant to this subsection, the sale may not4.ccuA sale directed by the court pursuant to subsection 1 must be conducted in the same manner as the sale of real property upon execution, by the sheriff of the county in which the encumbered land is situated, and if the encumbered land is situated in two or more counties, the court shall direct the sheriff of one of the counties to conduct the sale with like proceedings and effect as if the whole of the encumbered land were situated in that county.
If a deficiency is made good pursuant to this subsection, the sale may not occur.
4.
A sale directed by the court pursuant to subsection 1 must be conducted in the same manner as the sale of real property upon execution, by the sheriff of the county in which the encumbered land is situated, and if the encumbered land is situated in two or more counties, the court shall direct the sheriff of one of the counties to conduct the sale with like proceedings and effect as if the whole of the encumbered land were situated in that county.
(a) To appoint a receiver for, or obtain possession of, any real or personal collateral for the debt or as provided in NRS 32.015.
Assembly Amendment No.
- 81st Session (2021) – 27 – rents, issues, profits or other income of any real or personal, any property.
91 to Assembly Bill No.
237 Page 22 (a) To appoint a receiver for, or obtain possession of, any real or personal collateral for the debt or as provided in NRS 32.015.
(b) To enforce a security interest in, or the assignment of, any rents, issues, profits or other income of any real or personal property.
(f) For the exercise of any right or remedy authorized by chapter or 104A of NRS or by the Uniform Commercial Code as enacted in any other state, including, without limitation, an action for declaratory relief pursuant to chapter 30 of NRS to ascertain the identity of the person who is entitled to enforce an instrument pursuant to NRS 104.3309.
(f) For the exercise of any right or remedy authorized by chapter 104 or 104A of NRS or by the Uniform Commercial Code as enacted in any other state, including, without limitation, an action for declaratory relief pursuant to chapter 30 of NRS to ascertain the identity of the person who is entitled to enforce an instrument pursuant to NRS 104.3309.
in, a deposit account pursuant to a written agreement or pledge.
(g) For the exercise of any right to set off, or to enforce a pledge in, a deposit account pursuant to a written agreement or pledge.
pledge (h) To draw under a letter of credit.
(h) To draw under a letter of credit.
(k) Relating to any proceeding in bankruptcy, including the any other action to determine the amount or validity of a debt.ay and (l) For filing a claim pursuant to chapter 147 of NRS or to enforce such a claim which has been disallowed.
(k) Relating to any proceeding in bankruptcy, including the filing of a proof of claim, seeking relief from an automatic stay and any other action to determine the amount or validity of a debt.
(l) For filing a claim pursuant to chapter 147 of NRS or to enforce such a claim which has been disallowed.
(o) Pursuant to an agreement entered into pursuant to NRS 361.7311 between an owner of the property and the assignee of a tax - 81st Session (2021) – 28 – NRS 361.733.
(o) Pursuant to an agreement entered into pursuant to NRS 361.7311 between an owner of the property and the assignee of a tax lien against the property, or an action which is authorized by NRS 361.733.
the property, or an action which is authorized by (p) Which is exempted from the provisions of this section by specific statute.
(p) Which is exempted from the provisions of this section by specific statute.
A mortgage of real property [, or a mortgage of personal property or crops recorded prior to March 27, 1935,] which has been assigned may not be subsection.
A mortgage of real property [, or a mortgage of personal property or crops recorded prior to March 27, 1935,] which has been assigned may not be enforced unless and until the assignment is recorded pursuant to this subsection.
If the beneficial interest under a deed of trust has been assigned, the trustee under the deed of trust may not exercise the power of sale pursuant to NRS 107.080 unless and until the assignment is recorded pursuant to this subsection.
If the beneficial interest under a deed of trust has been assigned, the trustee under the deed of trust may not exercise the power of sale pursuant to Assembly Amendment No.
91 to Assembly Bill No.
237 Page 23 NRS 107.080 unless and until the assignment is recorded pursuant to this subsection.
Any instrument by which any mortgage or deed of trust of, lien upon or interest in real property is subordinated or waived as to priority [, must, in case it concerns only] concerning one or more other mortgages or deeds of trust of, liens upon or interests in real property [, together with, or in the alternative, one or more mortgages of, liens upon or interests in personal property or crops, the instruments or documents evidencing or creating which have been recorded prior to March 27, 1935,] must be recorded in located, and from the time any of the same are so filed for record operates as constructive notice of the contents thereof to all persons.
Any instrument by which any mortgage or deed of trust of, lien upon or interest in real property is subordinated or waived as to priority [, must, in case it concerns only] concerning one or more other mortgages or deeds of trust of, liens upon or interests in real property [, together with, or in the alternative, one or more mortgages of, liens upon or interests in personal property or crops, the instruments or documents evidencing or creating which have been recorded prior to March 27, 1935,] must be recorded in the office of the recorder of the county in which the property is located, and from the time any of the same are so filed for record operates as constructive notice of the contents thereof to all persons.
- 81st Session (2021) – 29 – Sec.
Sec.
and that grantor will pay all interest or installments due on any prior encumbrance, and that in default thereof, beneficiary may, without demand or notice, pay the same, and beneficiary shall be sole judge of the legality or validity amount necessary to be paid in satisfaction or discharge thereof.
and that grantor will pay all interest or installments due on any prior encumbrance, and that in default thereof, beneficiary may, without demand or notice, pay the same, and beneficiary shall be sole judge of the legality or validity of such taxes, assessments, charges or encumbrances, and the amount necessary to be paid in satisfaction or discharge thereof.
C OVENANT N O.
C OVENANT NO .
- 81st Session (2021) – 30 – 5.
Assembly Amendment No.
COVENANT N O.
91 to Assembly Bill No.
237 Page 24 5.
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 other moneys agreed to be paid, or of any interest thereon, or if anye 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 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 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 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 premises, and shall apply the proceeds of the sale thereof in payment, firstly, of the expenses - 81st Session (2021) – 31 – 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 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 ................
percent of the amount secured thereby and remaining unpaid or reasonable counsel fees and costs actually incurred, which shall become due and also such sums, if any, as trustee or beneficiary shall have paid, for procuring a search of the title to the premises, or any part thereof, subsequent to the execution of the deed of trust;
percent of the amount secured thereby and remaining unpaid or reasonable counsel fees and costs actually incurred, which shall become due upon any default made by grantor in any of the payments aforesaid;
and also such sums, if any, as trustee or beneficiary shall have paid, for procuring a search of the title to the premises, or any part thereof, subsequent to the execution of the deed of trust;
That in the event of a sale of the premises, or any part thereof, and the execution of a deed or deeds therefor under such trust, the recital therein of default, and of recording notice of breach and election of sale, and of the elapsing of the 3-month period, and of the giving of notice of sale, and of a demand by beneficiary, his or her heirs or assigns, that such sale should be made, shall be conclusive proof of such default, recording, election, elapsing of time, and of the due giving of such notice, and that the sale was regularly and validly made on due and proper demand by beneficiary, his or her heirs and assigns;
That in the event of a sale of the premises, or any part thereof, and the execution of a deed or deeds therefor under such trust, the recital therein of default, and of recording notice of breach and election of sale, and of the elapsing of the 3-month period, and of the giving of notice of sale, and of a demand by beneficiary, his or her heirs or assigns, that such sale should be made, shall be conclusive proof of such default, recording, election, elapsing of time, and of the due giving of such notice, and that the sale was regularly and validly made on due Assembly Amendment No.
91 to Assembly Bill No.
237 Page 25 and proper demand by beneficiary, his or her heirs and assigns;
and the receipt for the purchase money recited or contained in any deed executed to the purchaser as aforesaid shall be sufficient application of the purchase money, according to the trusts aforesaid.
and the receipt for the purchase money recited or contained in any deed executed to the purchaser as aforesaid shall be sufficient discharge to such purchaser from all obligation to see to the proper application of the purchase money, according to the trusts aforesaid.
C OVENANT N O .
COVENANT NO .
- 81st Session (2021) – 32 – 108.2405 1.
Sec.
The provisions of NRS 108.2403 and 108.2407ows:
16.
do not apply:
NRS 108.2405 is hereby amended to read as follows:
108.2405 1.
The provisions of NRS 108.2403 and 108.2407 do not apply:
Each owner who records a notice of waiver pursuant to paragraph (b) of subsection 1 must serve such notice by certified work of improvement and all other lien claimants who give thethe 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 [.] , whichever is later.
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 any prime contractor of the work of improvement and all other lien claimants who 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 [.] , whichever is later.
(b) “Ground lessee” means a person who enters into a ground lease as a lessee with the county as record owner of the real property as Sec.
(b) “Ground lessee” means a person who enters into a ground lease as a lessee with the county as record owner of the real property as the lessor.
Sec.
This section and section 7.2 of this act become effective upon passage and approval.
This section becomes effective upon passage and approval.
Sections 1, 1.5 and 3 of this act become effective:
Sections 1 , 1.5 and 3 of this act become effective:
(a) Upon passage and approval for the purpose of adopting any regulations and performing any other preparatory administrative tasks that are necessary to carry out the provisions of sections 1, 1.5 and 3;
(a) Upon passage and approval for the purpose of adopting any regulations and performing any other preparatory administrative tasks that are necessary to carry out the provisions of [section] sections 1 [;] and 1.5;
and (b) On January 1, 2022, for all other purposes.
(b) On January 1, 2022, for all other purposes.
- 81st Session (2021) – 33 – 3.
Assembly Amendment No.
Sections 2, 4 to 7, inclusive, and 7.4 to 16, inclusive, of this act become effective on January 1, 2022.
91 to Assembly Bill No.
~~~~~ 21 - 81st Session (2021)
237 Page 26 3.
Sections 2 and 4 to 16, inclusive, of this act become effective on January 1, 2022.