SB 223 — Revises provisions relating to real property. (BDR 2-657)

An action may be brought to determine the adverse claims to and clouds upon title to real property by a person who, personally or in combination with the person’s predecessors in interest, has been in the actual, exclusive and adverse possession of such property continuously for more than 15 years prior to the filing of the complaint, claiming to own the same in fee, or by any other freehold estate, against the whole world, and who has, personally or through the person’s predecessors in interest, paid all taxes of every kind levied or assessed and due against the property during thethef every period of 5 years next preceding the filing of the complaint, except that where clouds upon title to real property have been created by such person, and the action is brought to remove such clouds, or any of them, such period of actual, exclusive and adverse possession of such property shall be for more than 10 years.

The action shall be - *SB223* – 6 – commenced by the filing of a verified complaint averring the matters above enumerated.

2.- 82nd Session (2023) – 6 – addition to such persons as appear of record to have some claim, all other persons who are known, or by the exercise of reasonable diligence could be known, to plaintiff to have some claim to an estate, interest, right, title, lien or cloud in or on the land described in the complaint adverse to plaintiff’s ownership;

The complaint must include as defendants in such action, in addition to such persons as appear of record to have some claim, all other persons who are known, or by the exercise of reasonable diligence could be known, to plaintiff to have some claim to an estate, interest, right, title, lien or cloud in or on the land described in the complaint adverse to plaintiff’s ownership;

Within 10 days after the filing of the complaint, plaintiff shall file or cause to be filed in the office of the county recorder of [the] each county where the property , or any part thereof, is situated,matters arequired noticeby ofNRS the14.010.ncy pendency of the action containing the mattersSec. required by NRS 14.010.

Sec.

(c) Where the property or mobile home has been sold under a power of sale granted by NRS 107.080 to the trustee of a deed of trust executed by the person, or by another person under whom the person claims, and the title under such sale has been perfected;

[Except as otherwise provided in subsection 4, if the property has been transferred or sold as a residential sale, absent an - *SB223*82nd Session (2023) – 7 – agreementterminate betweenan existing lease:ner and the tenant to modify or (a) The new owner has the rights, obligations and liabilities of the tenantprevious owner or landlord pursuant to modifychapter 118A of NRS under the lease or terminaterental anagreement existingwhich lease:the previous owner or landlord entered into with the tenant or subtenant regarding the property;

(a) The new owner has the rights, obligations and liabilities of the previous owner or landlord pursuant to chapter 118A of NRS under the lease or rental agreement which the previous owner or landlord entered into with the tenant or subtenant regarding the property;

The successor has the rights, obligations and liabilities of the former landlord as to any securities which are owed under this section or NRS 118A.242 at the time of transfer.

owed under this section or NRS 118A.242 at the time of 3.

and (c) Notifying the tenant or subtenant that failure to pay rent to the new owner or comply with any other term of the agreement or applicable law constitutes a breach of the lease or rental agreement and may result in eviction proceedings, including, without limitation,40.254.ion, proceedings conducted pursuant to NRS 40.253 and 40.254.4.] If the property has been sold as a residential foreclosure, a tenant or subtenant in actual occupation of the premises, other than a person whose name appears on the mortgage or deed, who holds over and continues in possession of real property or a mobile home in any of the cases described in paragraph (b) or (c) of subsection 1 may be removed as prescribed in NRS 40.290 to 40.420, inclusive, after receiving a notice of the change of ownership of the real property or mobile home and after the expiration of a notice period - 82nd Session (2023) – 8 – subtenant and expiring:he notice was received by the tenant or (a) For all periodic tenancies with a period of less than 1 month, after not less than the number of days in the period;

4.] If the property has been sold as a residential foreclosure, a tenant or subtenant in actual occupation of the premises, other than a person whose name appears on the mortgage or deed, who holds over and continues in possession of real property or a mobile home in any of the cases described in paragraph (b) or (c) of subsection 1 may be removed as prescribed in NRS 40.290 to 40.420, inclusive, after receiving a notice of the change of ownership of the real property or mobile home and after the expiration of a notice period beginning on the date the notice was received by the tenant or subtenant and expiring:

- *SB223* – 8 – (a) For all periodic tenancies with a period of less than 1 month, after not less than the number of days in the period;

[6.]statement: 4.

The notice described in subsection [4] 2 must contain a statement:(a) Providing the contact information of the new owner to whom rent should be remitted;

(a) Providing the contact information of the new owner to whom rent should be remitted;

If the property has been sold as a residential foreclosure in any of the cases described in paragraph (b) or (c) of subsection 1, no person may enter a record of eviction for a tenant or subtenant who vacates a property during the notice period described inintenant subsection [4.] 2.

or - 82nd Session (2023) – 9 – (b) The new owner of a property purchased pursuant to a foreclosure sale or trustee’s sale from:

or - *SB223* – 9 – (2) Offering a payment to the tenant or subtenant in exchange for vacating the premises on a date earlier than the expiration of the notice period described in subsection [4.] 2.

An element, compound, mixture, solution, material or substance listed as a hazardous waste in, or having the characteristicsexcept identifiedany in,waste for which regulation under the Resourcery 1, 1993, Conservation and Recovery Act of 1976, 42 U.S.C.

§ 6921 on January 1, 1993, except any waste for which regulation under the Resource Conservation and Recovery Act of 1976, 42 U.S.C.

The instrument is not enforceable in - 82nd Session (2023) – 10 – connection with a foreclosure under this chapter or a trustee’s sale under chapter 107 of NRS unless and until it is recorded.

Sec.107.015 NAs used in this chapter:nded to read as follows:

8.1.

NRS 107.015 is hereby amended to read as follows:

107.015 As used in this chapter:

- *SB223* – 10 – 1.

“Person with an interest” means any person who has or claims any right, title or interest in, or lien or charge upon, the real property described in a deed of trust, as evidenced by any document real or instrument recorded in the office of the county recorder of the county in which any part of the real property is situated.

- 82nd Session (2023) – 11 – (a) Is included in the United States Department of the Treasury’s Listing of Approved Sureties;

and (b) Issues a surety bond pursuant to this section that does not exceed the underwriting limitations established for that surety by the UnitedUni13. States Department of the Treasury.

13.

- *SB223* – 11 – 14.] “Title insurer” has the meaning ascribed to it in NRS 692A.070.

(a) Be acceptable to the trustee;

and - 82nd Session (2023) – 12 – (e) Contain(1) aThe statementrecording of:date and instrument number or book and page number of the recorded deed of trust;

(1) The recording date and instrument number or book and page number of the recorded deed of trust;

- *SB223* – 12 – (a) Be signed under penalty of perjury by the trustor or the trustor’s successor in interest;

(f) Except as otherwise provided in subsection 8, contain a statementstateme(1) That the obligation or debt secured by the deed of trust has been paid in full or otherwise satisfied and the following,current whicheverbeneficiary isof applicable:record cannot be located after diligent search or refuses to execute and deliver a proper request to reconvey the estate in real property conveyed to the trustee by the grantor, as required by NRS 107.077;

(1) That the obligation or debt secured by the deed of trust has been paid in full or otherwise satisfied and the current beneficiary of record cannot be located after diligent search or refuses to execute and deliver a proper request to reconvey the estate in real property conveyed to the trustee by the grantor, as required by NRS 107.077;

(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;

4.- 82nd Session (2023) – 13 – 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.

NotThe 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 this subsection 7has of NRS 107.077, plus costs incurred by the trustee,same andeffect aas 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 107.077,107.077 unlessand thereleases trustee has received a written objection to the reconveyancelien of the deed of trusttrust. from the beneficiary of record within 30 days after the recording of the surety bond and declaration pursuant to subsections 1, 2 and 3.

TheA trustee is not liable to any person for the execution and recording of a reconveyance pursuant to this subsectionsection hasif the -trustee *SB223*acted –in 13reliance –upon samethe effectsubstantial ascompliance awith this section by the trustor or damaged by the reconveyance of thea deed of trust pursuant to NRSthison 107.077section andis releasesan action for damages against the lientrustor ofor the deedperson ofmaking trust.the declaration described in subsection 3 or an action against the surety bond.

A trustee is not liable to any person for the execution and recording of a reconveyance pursuant to this section if the trustee acted in reliance upon the substantial compliance with this section by the trustor or the trustor’s successor in interest.

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

Notwithstanding any provision of chapter 120A of NRS, any amount of the balance remaining due under the obligation or debt secured by the deed of trust, including, without limitation, principal and interest, which is remitted to the issuer of the surety bond described in subsection 2 in connection with the issuance of that surety bond must, if unclaimed within 3 years after remittance, be property that is presumed abandonedon forwhich the purposesamount is paid or delivered to the Administrator of chapterUnclaimed 120AProperty pursuant to NRS 120A.570, the issuer of NRS.the surety bond is relieved of any liability to pay to the beneficiary or his or her heirs or successors in interest the amount paid or delivered to the Administrator.

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

7.- 82nd Session (2023) – 14 – procedure for the reconveyance of a deed of trust and the issuance of surety bonds and declarations to release the lien of a deed of trust, and shall not affect any other procedures, whether or not such procedures are set forth in statute, for the reconveyance of a deed of trust and the issuance of surety bonds and declaration to release the lien of a deed of trust.

This section shall not be deemed to create an exclusive procedure for the reconveyance of a deed of trust and the issuance of surety bonds and declarations to release the lien of a deed of trust, and shall not affect any other procedures, whether or not such procedures are set forth in statute, for the reconveyance of a deed of trust and the issuance of surety bonds and declaration to release the lien of a deed of trust.

- *SB223* – 14 – (b) The current trustee of record and the current beneficiary of record cannot be located after diligent search as described in subsection 9;

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

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

and (e) The surety bond required by this section is for a period of not lessles9.thaFor thanthe 5purposes years.of subsection 1, a diligent search has been conducted if:

9.(a) A notice stating the intent to record a surety bond and declaration pursuant to this section, the name and address of the trustee, the beneficiary’s right to record a written objection to the reconveyance of the deed of trust pursuant to this section and the requirement to notify the trustee in writing of any such objection, has been mailed by certified mail, return receipt requested, to the last known address of the person to whom payments under the deed - 82nd Session (2023) – 15 – address indicated for such beneficiary on the instrument creating, assigning or conveying the deed of trust.

For the purposes of subsection 1, a diligent search has been conducted if:

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

(d) If the beneficiary of record or trustee of record is a state or national bank or state or federal savings and loan association or savings bank, an inquiry concerning the location of the beneficiary - *SB223* – 15 – or trustee has been made to the regulator of the bank, savings and loanloa10. association or savings bank.

10.As used in this section:k.

As used in this section:

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.security.ter a 2.

2.

or (2)- On82nd orSession after(2023) July– 1,16 1957,– the grantor, the person who holds the title of record, a beneficiary under a subordinate deed of trust or any other person who has a subordinate lien or encumbrance of record on the property has, for a period of 35 days, computed as prescribed in subsection 3, failed to make good the deficiency in performance or payment.

-subsection *SB223*2 –commences 16on –the 3.first day following the day upon which the notice of default and election to sell is recorded in the office of the county recorder of [the] each county in which the property is located and a copy of the notice of default and election to sell is mailed by registered or certified mail, return receipt requested and with postage prepaid to the grantor or, to the person who holds the title of record on the date the notice of default and election to sell is recorded, and, if the property is operated as a facility licensed under chapter 449 of NRS, to the State Board of Health, at their respective addresses, if known, otherwise to the address of the trust property or, if authorized by the parties, delivered by electronic transmission.

The 15- or 35-day period provided in paragraph (a) of subsection 2 commences on the first day following the day upon which the notice of default and election to sell ismust recordeddescribe in the officedeficiency of the county recorder of [the] each county in whichperformance theor propertypayment isand locatedmay andcontain a copy of the notice of defaultintent and election to selldeclare isthe mailedentire byunpaid registeredbalance ordue certifiedif mail,acceleration returnis receiptpermitted requestedby and with postage prepaid to the grantorobligation or,secured toby the persondeed who holds the title of recordtrust, onbut thepayment dateis themade noticegood of default and electionany tocosts, sellfees isand recorded,expenses and,incident ifto the propertypreparation isor operatedrecordation asof athe facilitynotice licensedand underincident chapter 449 of NRS, to the Statemaking Boardgood of Health, at their respective addresses, if known, otherwise to the addressdeficiency ofin theperformance trustor propertypayment or,are ifpaid authorizedwithin by the parties,time deliveredspecified byin electronicsubsection transmission.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.

The trustee, or other person authorized to make the sale under the terms of the deed of trust, shall, after expiration of the applicable period specified in paragraph (d) of subsection 2 following the recording of the notice of breach and election to sell, and- before82nd theSession making(2023) of– the17 sale,– givethereof by recording the notice of sale and by:of the time and place thereof(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 recordingpersonal 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 salethe trustor and by: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 certified mail to the last known address of the trustor and any other person entitled to such notice pursuant to this section;

and (c) Publishing a copy of the notice three times, once each week for 3 consecutive weeks, in a newspaper of general circulation in [the] each county where the property is situated or, if the property is a time share, by posting a copy of the notice on an Internet website and publishing a statement in a newspaper in the manner required by subsectionsub5.ctiEvery 3sale made under the provisions of NRSthis 119A.560.section and other sections of this chapter vests in the purchaser the title of the grantor and any successors in interest without equity or right of redemption.

5.

Every sale made under the provisions of this section and other sections of this chapter vests in the purchaser the title of the - *SB223* – 17 – grantor and any successors in interest without equity or right of redemption.

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] eachcommencement countyof where the saleaction.took took place within 5 days after commencement6. of the action.

6.

7.- 82nd Session (2023) – 18 – which is set forth in subsections 5 and 6, any failure to comply with the provisions of this section or any other provision of this chapter does not affect the rights of a bona fide purchaser as described in NRS 111.180.

Upon expiration of the time for commencing an action which is set forth in subsections 5 and 6, any failure to comply with the provisions of this section or any other provision of this chapter does not affect the rights of a bona fide purchaser as described in NRS 111.180.

andand(c) (c) Reasonable attorney’s fees and costs,  unless the court finds good cause for a different award.

- *SB223* – 18 – 9.

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] each county in which the property is located.

The failure of a trustee or successful bidder to effect the posting required by this subsection does not affect the validity of a sale of the- property82nd toSession a(2023) bona– fide19 purchaser– for value without knowledge of the failure.

a bona fide purchaser for value without knowledge 12.

(b) A fee of $95 for deposit in the Account for Foreclosure Mediation Assistance, which is hereby created in the State General Fund.Committee and the money in the Account may be expended only for the purpose of:

The Account must be administered by the Interim Finance Committee and the money in the Account may be expended only for the purpose of:

- *SB223* – 19 – (c) A fee of $5 to be paid over to the county treasurer on or before the fifth day of each month for the preceding calendar month.

The county treasurer shall remit quarterly to the organization operating the program for legal services that receives the fees charged pursuant to NRS 19.031 for the operation of programs for the indigent all the money received from the county recorder pursuant to this14. paragraph.

14.

The- county82nd treasurerSession shall,(2023) on– or20 before– the 15th day of each month, remit the fees deposited by the county recorder pursuant to thisthisnth, subsection to the State Controller for credit to the State General Fund or the Account as prescribed in subsection 13.

(a) In the case of any deed of trust which concerns owner- occupied housing, 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.

(b) The beneficiary, the successor in interest of the beneficiary or the trustee first executes and causes to be recorded in the office of the recorder of [the] each county wherein the trust property, or [some] any part thereof, is situated a notice of the breach and of the - *SB223* – 20 – election to sell or cause to be sold the property pursuant to subsection 2 of NRS 107.080, together with a notarized affidavit of authority to exercise the power of sale.

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 thether debt standards set forth in NRS 51.135:

(2) That the beneficiary under the deed of trust, the successor in interest of the beneficiary or the trustee is in actual or constructive- possession82nd ofSession the(2023) note– secured21 by– the deed of trust or that the beneficiary or its successor in interest or the trustee is entitled to enforce the obligation or debt secured by the deed of trust.

(3) That the beneficiary or its successor in interest, the servicer of the obligation or debt secured by the deed of trust or the trustee, or an attorney representing any of those persons, has sent to of trust a written statement of:bligation or debt secured by the obligordeed (I) That amount of payment required to make good the deficiency in performance or borrowerpayment, avoid the exercise of the power of sale and reinstate the terms and conditions of the underlying obligation or debt securedexisting bybefore the deeddeficiency in performance or payment, as of trustthe adate writtenof statementthe of:statement;

(I) That amount of payment required to make good the deficiency in performance or payment, avoid the exercise of the power of sale and reinstate the terms and conditions of the underlying obligation or debt existing before the deficiency in performance or payment, as of the date of the statement;

- *SB223* – 21 – (V) A good faith estimate of all fees imposed in connection with the exercise of the power of sale;

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

(II)- The82nd personalSession knowledge(2023) which– the22 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;

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

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

In addition to providing notice pursuant to the requirements set forth in subsection 4 of NRS 107.080, the trustee, or other person authorized to make the sale under the terms of the deed of - *SB223* – 22 – trust with respect to a residential foreclosure, shall, after expiration of the applicable period specified in paragraph (d) of subsection 2 of NRS 107.080, following the recording of the notice of breach and electionprovisions toof sell,NRS and107.087.re before the making of the sale, comply with the provisions4. of NRS 107.087.

4.

Sec.- 82nd Session (2023) – 23 – 107.086 1.RS 10Except as otherwise provided in subsection 4 of NRS 107.0865, in addition to the requirements of NRS 107.085, the exercise of the power of sale pursuant to NRS 107.080 with respect to any deed of trust which concerns owner-occupied housing is subject to the provisions of this section.

12.

NRS 107.086 is hereby amended to read as follows:

107.086 1.

Except as otherwise provided in subsection 4 of NRS 107.0865, in addition to the requirements of NRS 107.085, the exercise of the power of sale pursuant to NRS 107.080 with respect to any deed of trust which concerns owner-occupied housing is subject to the provisions of this section.

(2) Contact information which the grantor or the person who holds the title of record may use to serve notice as required pursuant to subsection 3 if the grantor or person who holds the title does notnott elect to waive mediation;

and - *SB223* – 23 – (5) A form upon which the grantor or the person who holds the title of record may indicate an election to waive mediationmediations 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;

(b) In addition to including the information described in paragraph (a) with the notice of default and election to sell which is mailed or delivered by electronic transmission, as applicable, to the grantor- or82nd theSession person(2023) who– holds24 the– title of record as required by subsection 3 of NRS 107.080, provides to the grantor or the person who holds the title of record the information described in paragraph (a) concurrently with, but separately from, the notice of default and election to sell which is mailed or delivered by electronic transmission, as applicable, to the grantor or the person who holds the title of record as required by subsection 3 of NRS 107.080;

and (e) Causes to be recorded in the office of the recorder of [the] eachis countysituated:in in which the trust property, or [some] any part thereof, (1) The certificate provided to the trustee by Home Means Nevada, Inc., or its successor organization, pursuant to subsection 4 or 7 which provides that no mediation is situated:required in the matter;

(1) The certificate provided to the trustee by Home Means Nevada, Inc., or its successor organization, pursuant to subsection 4 or 7 which provides that no mediation is required in the matter;

If the grantor or the person who holds the title of record does not elect to waive mediation, he or she shall, not later than 30 days after the service of the notice in the manner required by - *SB223* – 24 – NRS 107.080, petition the district court to participate in mediation pursuant to this section, at the time of filing such a petition, pay to the clerk of the court a fee of $25 and his or her share of the fee established pursuant to subsection 12.

The grantor or the person who holds the title of record shall serve a copy of the petition, by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission, upon the beneficiary of the deed of trust and Home Means Nevada, Inc., or its successor organization.- 82nd Session (2023) – 25 – Nevada, Inc., or its successor organization, shall notify the trustee and every other person with an interest by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission, of the petition of the grantor or person who holds the title of record to participate in mediation pursuant to this section.

Upon receipt of the copy of the petition, Home Means Nevada, Inc., or its successor organization, shall notify the trustee and every other person with an interest by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission, of the petition of the grantor or person who holds the title of record to participate in mediation pursuant to this section.

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 itsitsction 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.

The beneficiary of the deed of trust shall bring to the mediation the original or a certified copy of the deed of trust, the mortgage note, each assignment of the deed of trust or mortgage note and any documents created in connection with a loan modification.

If the beneficiary of the deed of trust is represented at the mediation by another person, that person must have authority to negotiate a loan - *SB223* – 25 – modification on behalf of the beneficiary of the deed of trust or have access at all times during the mediation to a person with such authority.

If the beneficiary of the deed of trust or the representative fails to attend the mediation, fails to participate in the mediation in good faith or does not bring to the mediation each document required- by82nd subsectionSession 5(2023) or– does26 not– have the authority or access to a person with the authority required by subsection 5, the mediatormediatorto shall prepare and submit to the district court a recommendation concerning the imposition of sanctions against the beneficiary of the deed of trust or the representative.

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

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.

- *SB223* – 26 – 12.

(a)- Ensuring82nd Session (2023) – 27 – manner.Ensuring that mediations occur in an orderly and timely manner.(b) Requiring each party to a mediation to provide such information as the mediator determines necessary.

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

The county treasurer shall remit quarterly all such amounts turned over to the county treasurer to the State Controller for deposit to the Account for Foreclosure Mediation Assistance createdcre(e) Prescribing a form supplied by paragraphthe (b)district ofcourt subsectionto 13file ofa NRSpetition 107.080.to participate in mediation pursuant to this section.

(e) Prescribing a form supplied by the district court to file a petition to participate in mediation pursuant to this section.

A noncommercial lender is not excluded from the applicationapp15. of this section.

15.

- *SB223*82nd Session (2023) – 2728 – (a) Make available on the Internet portal the option to receive by electronic transmission any notification required as part of the process of foreclosure mediation;

(b) Require authorization in writing from any party who wants to receive(c) Authorize notification by electronic transmission;transmission at each stage of the process of foreclosure mediation.

and (c) Authorize notification by electronic transmission at each stage of the process of foreclosure mediation.

A mortgagor under a mortgage secured by owner-occupied housing or a grantor or the person who holds the title of record with respect to any deed of trust which concerns owner-occupied housing may initiate mediation to negotiate a loan modification under the mediation process set forth in NRS 107.086 if:

(3)- Pays82nd toSession the(2023) district– court29 his– or her share of the fee established pursuant to subsection 12 of NRS 107.086;

and -the *SB223*fee – 28 – (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 by certified mail, return receipt requested or, if authorized by the parties, by electronic transmission, of the petition of the mortgagor, grantor or person whowhonic holds the title of record to participate in mediation.

If Home Means Nevada, Inc., or its successor organization, provides such a certificate, the requirement for mediation pursuant to NRS 107.086 is satisfied.satisfied., the requirement 5.

5.

The recording of the certificate in the office of [the] each county recorder in which the trust property, or [some] any part thereof, is situated shall be deemed to be the recording of the- certificate82nd requiredSession pursuant(2023) to– subparagraph30 (2)– of paragraphsubsection (e)2 of subsectionNRS 2107.086.nt to subparagraph (2) of NRSparagraph 107.086.(e) 6.

6.

- *SB223* – 29 – 7.

(b) “Imminent risk of default” means the inability of a grantor or the person who holds the title of record to make his or her mortgagemortgager payment within the next 90 days.

(b) The tenant or subtenant continues to have the rights, obligations and liabilities that the tenant or subtenant had pursuant to this chapter under the rental agreement which the tenant or subtenant entered into with the previous owner or landlord regarding the premises;

andandh the previous owner or (c) Upon termination of the previous owner’s interest in the premises by a voluntary transfer or sale, the previous owner shall transfer the security deposit in the manner set forth in paragraph (a) of subsection 1 of NRS 118A.244.

2.- 82nd Session (2023) – 31 – notice to the tenant or subtenant within 30 days after the date of the transfer or sale:

The new owner pursuant to subsection 1 must provide a notice to the tenant or subtenant within 30 days after the date of the transfer or sale:

(b) Notifying the tenant or subtenant that the rental agreement the tenant or subtenant entered into with the previous owner or landlord of the premises continues in effect through the period of - *SB223* – 30 – the tenancy and stating the amount held by the new owner for the security deposit;

118A.180this 1.chapter applies to, regulates and determines rights, obligations and remedies under a rental agreement, wherever made, for a dwelling unit or premises located within this State.

Except as otherwise provided in subsection 2, this chapter applies to, regulates and determines rights, obligations and remedies under a rental agreement, wherever made, for a dwelling unit or premises located within this State.

(e) Occupancy by a member of a fraternal or social organization in the portion of a structure operated for the benefit of thetheation organization;

- 82nd Session (2023) – 32 – (h) Occupancy by an owner of a condominium unit or by a holder of a proprietary lease in a cooperative apartment;

[or] (j) Occupancy by a person who is guilty of a forcible entry, as defined in NRS 40.230, or a forcible detainer, as defined in NRSNRSas 40.240 [.] ;

- *SB223* – 31 – Sec.

645.8801 If a real estate broker records a claim pursuant to the provisions of NRS 645.8775 and that claim is paid or otherwise satisfied pursuant to that section [,] or NRS 645.8785, the real estate broker shall, within 3 days after the claim is paid or otherwise recordedsatisfied, inrecord thea officewritten release of thethat countyclaim. recorder where the claim wasst be recorded.

The release must be recorded in the office of the county recorder where the claim was recorded.

H~~~~~ 23 - *SB223*82nd Session (2023)