reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.435 - Judicial proceedings in violation of NRS 40.430; provisions of NRS 40.430 as an affirmative defense.

1. The commencement of or participation in a judicial proceeding in violation of NRS 40.430 does not forfeit any of the rights of a secured creditor in any real or personal collateral, or impair the ability of the creditor to realize upon any real or personal collateral, if the judicial proceeding is:
(a) Stayed or dismissed before entry of a final judgment; or
(b) Converted into an action which does not violate NRS 40.430.
2. If the provisions of NRS 40.430 are timely interposed as an affirmative defense in such a judicial proceeding, upon the motion of any party to the proceeding the court shall:
(a) Dismiss the proceeding without prejudice; or
(b) Grant a continuance and order the amendment of the pleadings to convert the proceeding into an action which does not violate NRS 40.430.
3. The failure to interpose, before the entry of a final judgment, the provisions of NRS 40.430 as an affirmative defense in such a proceeding waives the defense in that proceeding. Such a failure does not affect the validity of the final judgment, but entry of the final judgment releases and discharges the mortgage or other lien.
4. As used in this section, "final judgment" means a judgment which imposes personal liability on the debtor for the payment of money and which may be appealed under the Nevada Rules of Appellate Procedure.
(Added to NRS by 1989, 1767)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.440 - Disposition of proceeds of foreclosure sale.

Following a foreclosure sale, the court may cause the proceeds of the foreclosure sale to be paid to the persons entitled to it pursuant to NRS 40.462, and in the meantime may direct it to be deposited in court.
[1911 CPA § 560; RL § 5502; NCL § 9049]—(NRS A 1989, 888, 1769; 2015, 3340)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.450 - Proceedings when debt secured falls due at different times.

If the debt for which the mortgage or other lien on real property is held is not all due, as soon as a sufficient amount of the property has been sold to pay the amount due, with costs, the sale shall cease. Afterwards, as often as more becomes due for principal or interest, the court may, on motion, order more to be sold. However, if the property cannot be sold in portions without injury to the parties, the whole may be ordered to be sold in the first instance, and the entire debt and costs paid, with a rebate of interest where such a rebate is proper.
[1911 CPA § 561; RL § 5503; NCL § 9050]—(NRS A 1989, 1769)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.451 - "Indebtedness" defined.

As used in NRS 40.451 to 40.463, inclusive, "indebtedness" means the principal balance of the obligation secured by a mortgage or other lien on real property, together with all interest accrued and unpaid prior to the time of foreclosure sale, all costs and fees of such a sale, all advances made with respect to the property by the beneficiary, and all other amounts secured by the mortgage or other lien on the real property in favor of the person seeking the deficiency judgment. Such amount constituting a lien is limited to the amount of the consideration paid by the lienholder.
(Added to NRS by 1969, 572; A 1989, 1769)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.453 - Waiver of rights in documents relating to sale of real property against public policy and unenforceable; exception.

Except as otherwise provided in NRS 40.495:
1. It is hereby declared by the Legislature to be against public policy for any document relating to the sale of real property to contain any provision whereby a mortgagor or the grantor of a deed of trust or a guarantor or surety of the indebtedness secured thereby, waives any right secured to the person by the laws of this state.
2. A court shall not enforce any such provision.
(Added to NRS by 1969, 573; A 1973, 911; 1985, 371; 1987, 1643; 1993, 152)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.455 - Deficiency judgment: Award to judgment creditor or beneficiary of deed of trust; exceptions.

1. Except as otherwise provided in subsection 3, upon application of the judgment creditor or the beneficiary of the deed of trust within 6 months after the date of the foreclosure sale and after the required hearing, the court shall award a deficiency judgment to the judgment creditor or the beneficiary of the deed of trust if it appears from the sheriff’s return or the recital of consideration in the trustee’s deed that there is a deficiency of the proceeds of the sale and a balance remaining due to the judgment creditor or the beneficiary of the deed of trust, respectively.
2. If the indebtedness is secured by more than one parcel of real property, more than one interest in the real property or more than one mortgage or deed of trust, the 6-month period begins to run after the date of the foreclosure sale of the last parcel or other interest in the real property securing the indebtedness, but in no event may the application be filed more than 2 years after the initial foreclosure sale.
3. If the judgment creditor or the beneficiary of the deed of trust is a financial institution, the court may not award a deficiency judgment to the judgment creditor or the beneficiary of the deed of trust, even if there is a deficiency of the proceeds of the sale and a balance remaining due the judgment creditor or beneficiary of the deed of trust, if:
(a) The real property is a single-family dwelling and the debtor or grantor was the owner of the real property at the time of the foreclosure sale;
(b) The debtor or grantor used the amount for which the real property was secured by the mortgage or deed of trust to purchase the real property;
(c) The debtor or grantor continuously occupied the real property as the debtor’s or grantor’s principal residence after securing the mortgage or deed of trust; and
(d) The debtor or grantor did not refinance the mortgage or deed of trust after securing it.
4. For purposes of an action against a guarantor, surety or other obligor of an indebtedness or obligation secured by a mortgage or lien upon real property pursuant to NRS 40.495, the term "application" includes, without limitation, a complaint or other pleading to collect the indebtedness or obligation which is filed before the date and time of the foreclosure sale unless a judgment has been entered in such action as provided in paragraph (b) of subsection 4 of NRS 40.495.
5. As used in this section, "financial institution" has the meaning ascribed to it in NRS 363A.050.
(Added to NRS by 1969, 573; A 1979, 450; 1985, 371; 1987, 1345; 2009, 1330; 2015, 3340)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.457 - Hearing before award of deficiency judgment; appraisal of property sold.

1. Before awarding a deficiency judgment under NRS 40.455, the court shall hold a hearing and shall take evidence presented by either party concerning the fair market value of the property sold as of the date of foreclosure sale. Notice of such hearing shall be served upon all defendants who have appeared in the action and against whom a deficiency judgment is sought, or upon their attorneys of record, at least 15 days before the date set for hearing.
2. Upon application of any party made at least 10 days before the date set for the hearing the court shall, or upon its own motion the court may, appoint an appraiser to appraise the property sold as of the date of foreclosure sale. Such appraiser shall file with the clerk the appraisal, which is admissible in evidence. The appraiser shall take an oath that the appraiser has truly, honestly and impartially appraised the property to the best of the appraiser’s knowledge and ability. Any appraiser so appointed may be called and examined as a witness by any party or by the court. The court shall fix a reasonable compensation for the appraiser, but the appraiser’s fee shall not exceed similar fees for similar services in the county where the encumbered land is situated.
(Added to NRS by 1969, 573; A 2015, 3341)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.458 - Deficiency judgment: Award to judgment creditor or beneficiary of deed of trust prohibited under certain circumstances.

1. If the judgment creditor or the beneficiary of the deed of trust who applies for a deficiency judgment is a banking or other financial institution, the court may not award a deficiency judgment to the judgment creditor or the beneficiary of the deed of trust if:
(a) The real property is a single-family dwelling and the debtor or the grantor of the deed of trust was the owner of the real property at the time of the sale in lieu of a foreclosure sale;
(b) The debtor or grantor used the amount for which the real property was secured by the mortgage or deed of trust to purchase the real property;
(c) The debtor or grantor continuously occupied the real property as the debtor’s or grantor’s principal residence after securing the mortgage or deed of trust;
(d) The debtor or grantor and the banking or other financial institution entered into an agreement to sell the real property secured by the mortgage or deed of trust to a third party for an amount less than the indebtedness secured thereby; and
(e) The agreement entered into pursuant to paragraph (d):
(1) Does not state the amount of money still owed to the banking or other financial institution by the debtor or grantor or does not authorize the banking or other financial institution to recover that amount from the debtor or grantor; and
(2) Contains a conspicuous statement that has been acknowledged by the signature of the banking or other financial institution and the debtor or grantor which provides that the banking or other financial institution has waived its right to recover the amount owed by the debtor or grantor and which sets forth the amount of recovery that is being waived.
2. As used in this section, "banking or other financial institution" means any bank, savings and loan association, savings bank, thrift company, credit union or other financial institution that is licensed, registered or otherwise authorized to do business in this State.
(Added to NRS by 2011, 2051; A 2013, 1016; 2015, 3341)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.459 - Limitations on amount of money judgment.

1. After the hearing, the court shall award a money judgment against the debtor, guarantor or surety who is personally liable for the debt.
2. Except as otherwise provided in subsection 3, the court shall not render judgment for more than:
(a) The amount by which the amount of the indebtedness which was secured exceeds the fair market value of the property sold at the time of the sale, with interest from the date of the sale; or
(b) The amount which is the difference between the amount for which the property was actually sold and the amount of the indebtedness which was secured, with interest from the date of sale,
whichever is the lesser amount.
3. If the debt was secured by property upon which the debtor, guarantor or surety maintains his or her principal residence, there is not more than one residential structure and not more than four families reside, the court shall not render judgment for more than:
(a) The amount by which the amount of the indebtedness which was secured exceeds the fair market value of the property sold at the time of the sale, with interest from the date of the sale;
(b) The amount which is the difference between the amount for which the property was actually sold and the amount of the indebtedness which was secured, with interest from the date of sale; or
(c) If the person seeking the judgment acquired the right to obtain the judgment from a person who previously held that right, the amount by which the amount of the consideration paid for that right exceeds the fair market value of the property sold at the time of sale or the amount for which the property was actually sold, whichever is greater, with interest from the date of sale and reasonable costs,
whichever is the lesser amount.
4. For the purposes of this section, the "amount of the indebtedness" does not include any amount received by, or payable to, the judgment creditor or beneficiary of the deed of trust pursuant to an insurance policy to compensate the judgment creditor or beneficiary for any losses incurred with respect to the property or the default on the debt.
(Added to NRS by 1969, 573; A 1985, 371; 1987, 1644; 1989, 1770; 1993, 152; 2011, 1743; 2015, 581)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.462 - Distribution of proceeds of foreclosure sale.

1. Except as otherwise provided by specific statute, this section governs the distribution of the proceeds of a foreclosure sale. The provisions of NRS 40.455, 40.457 and 40.459 do not affect the right to receive those proceeds, which vests at the time of the foreclosure sale. The purchase of any interest in the property at the foreclosure sale, and the subsequent disposition of the property, does not affect the right of the purchaser to the distribution of proceeds pursuant to paragraph (c) of subsection 2, or to obtain a deficiency judgment pursuant to NRS 40.455, 40.457 and 40.459.
2. The proceeds of a foreclosure sale must be distributed in the following order of priority:
(a) Payment of the reasonable expenses of taking possession, maintaining, protecting and leasing the property, the costs and fees of the foreclosure sale, including reasonable trustee’s fees, applicable taxes and the cost of title insurance and, to the extent provided in the legally enforceable terms of the mortgage or lien, any advances, reasonable attorney’s fees and other legal expenses incurred by the foreclosing creditor and the person conducting the foreclosure sale.
(b) Satisfaction of the obligation being enforced by the foreclosure sale.
(c) Satisfaction of obligations secured by any junior mortgages or liens on the property, in their order of priority.
(d) Payment of the balance of the proceeds, if any, to the debtor or the debtor’s successor in interest.
If there are conflicting claims to any portion of the proceeds, the person conducting the foreclosure sale is not required to distribute that portion of the proceeds until the validity of the conflicting claims is determined through interpleader or otherwise to the person’s satisfaction.
3. A person who claims a right to receive the proceeds of a foreclosure sale pursuant to paragraph (c) of subsection 2 must, upon the written demand of the person conducting the foreclosure sale, provide:
(a) Proof of the obligation upon which the claimant claims a right to the proceeds; and
(b) Proof of the claimant’s interest in the mortgage or lien, unless that proof appears in the official records of a county in which the property is located.
Such a demand is effective upon personal delivery or upon mailing by registered or certified mail, return receipt requested, to the last known address of the claimant. Failure of a claimant to provide the required proof within 15 days after the effective date of the demand waives the claimant’s right to receive those proceeds.
(Added to NRS by 1989, 887; A 2015, 3342)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.463 - Agreement for assistance in recovering proceeds of foreclosure sale due to debtor or successor in interest; requirements for enforceable agreement; fee must be reasonable.

1. Except as otherwise provided in this section, a debtor or the debtor’s successor in interest may enter into an agreement with a third party that provides for the third party to assist in the recovery of any balance of the proceeds of a foreclosure sale due to the debtor or the debtor’s successor in interest pursuant to paragraph (d) of subsection 2 of NRS 40.462.
2. An agreement pursuant to subsection 1:
(a) Must:
(1) Be in writing;
(2) Be signed by the debtor or the debtor’s successor in interest; and
(3) Contain an acknowledgment of the signature of the debtor or the debtor’s successor in interest by a notary public; and
(b) May not be entered into less than 30 days after the date on which the foreclosure sale was conducted.
3. Any agreement entered into pursuant to this section that does not comply with subsection 2 is void and unenforceable.
4. Any fee charged by a third party for services provided pursuant to an agreement entered into pursuant to this section must be reasonable. A fee that exceeds $2,500, excluding attorney’s fees and costs, is presumed to be unreasonable. A court shall not enforce an obligation to pay any unreasonable fee, but may require a debtor to pay a reasonable fee that is less than the amount set forth in the agreement.
5. A third party may apply to the court for permission to charge a fee that exceeds $2,500. Any third party applying to the court pursuant to this subsection has the burden of establishing to the court that the fee is reasonable.
6. This section does not preclude a debtor or the debtor’s successor in interest from contesting the reasonableness of any fee set forth in an agreement entered into pursuant to this section.
7. As used in this section:
(a) "Creditor" means a person due an obligation being enforced by a foreclosure sale conducted pursuant to NRS 40.451 to 40.463, inclusive.
(b) "Debtor" means a person, or the successor in interest of a person, who owes an obligation being enforced by a foreclosure sale conducted pursuant to NRS 40.451 to 40.463, inclusive.
(c) "Third party" means a person who is neither the debtor nor the creditor of a particular obligation being enforced by a foreclosure sale conducted pursuant to NRS 40.451 to 40.463, inclusive.
(Added to NRS by 2007, 107)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.4636 - Limitations on amount of money judgment.

1. If a person to whom an obligation secured by a junior mortgage or lien on real property is owed:
(a) Files a civil action to obtain a money judgment against the debtor under that obligation after a foreclosure sale or a sale in lieu of a foreclosure sale; and
(b) Such action is not barred by NRS 40.430,
in determining the amount owed by the debtor, the court shall not include the amount of any proceeds received by, or payable to, the person pursuant to an insurance policy to compensate the person for losses incurred with respect to the property or the default on the obligation.
2. If:
(a) A person acquired the right to enforce an obligation secured by a junior mortgage or lien on real property from a person who previously held that right;
(b) The person files a civil action to obtain a money judgment against the debtor after a foreclosure sale or a sale in lieu of a foreclosure sale;
(c) The obligation was secured by a junior mortgage or lien on real property upon which the debtor maintains his or her principal residence, there is not more than one residential structure and not more than four families reside; and
(d) Such action is not barred by NRS 40.430,
the court shall not render judgment for more than the amount of the consideration paid for that right, plus interest from the date on which the person acquired the right and reasonable costs.
3. As used in this section, "obligation secured by a junior mortgage or lien on real property" includes, without limitation, an obligation which is not currently secured by a mortgage or lien on real property if the obligation:
(a) Is incurred by the debtor under an obligation which was secured by a mortgage or lien on real property; and
(b) Has the effect of reaffirming the obligation which was secured by a mortgage or lien on real property.
(Added to NRS by 2011, 1742; A 2015, 582)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.4638 - Circumstances under which action to enforce obligation is prohibited.

1. A person to whom an obligation secured by a junior mortgage or lien on real property is owed may not bring any action to enforce that obligation after a foreclosure sale of the real property which secured that obligation or a sale in lieu of a foreclosure sale if:
(a) The person is a financial institution;
(b) The real property which secured the obligation is a single-family dwelling and the debtor or grantor was the owner of the real property at the time of the foreclosure sale or sale in lieu of a foreclosure sale;
(c) The debtor or grantor used the amount of the obligation to purchase the real property;
(d) The debtor or grantor continuously occupied the real property as the debtor’s or grantor’s principal residence after securing the obligation; and
(e) The debtor or grantor did not refinance the obligation after securing it.
2. As used in this section, "financial institution" has the meaning ascribed to it in NRS 363A.050.
(Added to NRS by 2011, 1743)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.4639 - Period of limitation on commencement of civil action.

A civil action not barred by NRS 40.430 or 40.4638 by a person to whom an obligation secured by a junior mortgage or lien on real property is owed to obtain a money judgment against the debtor after a foreclosure sale of the real property or a sale in lieu of a foreclosure sale may only be commenced within 6 months after the date of the foreclosure sale or sale in lieu of a foreclosure.
(Added to NRS by 2011, 1743)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.465 - "Indebtedness" defined.

As used in NRS 40.475, 40.485 and 40.495, "indebtedness" means the principal balance of the obligation, together with all accrued and unpaid interest, and those costs, fees, advances and other amounts secured by the mortgage or lien upon real property.
(Added to NRS by 1987, 1643; A 1989, 1001)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.475 - Remedy against mortgagor or grantor; assignment of creditor’s rights to guarantor, surety or obligor.

Upon full satisfaction by a guarantor, surety or other obligor, other than the mortgagor or grantor of a deed of trust, of the indebtedness secured by a mortgage or lien upon real property, the paying guarantor, surety or other obligor is entitled to enforce every remedy which the creditor then has against the mortgagor or grantor of the mortgage or lien upon real property, and is entitled to an assignment from the creditor of all of the rights which the creditor then has by way of security for the performance of the indebtedness.
(Added to NRS by 1987, 1643)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.485 - Interest in proceeds of secured indebtedness upon partial satisfaction of indebtedness.

Immediately upon partial satisfaction by a guarantor, surety or other obligor, other than the mortgagor or grantor of a deed of trust, of the indebtedness secured by a mortgage or lien upon real property, the paying guarantor, surety or other obligor automatically, by operation of law and without further action, receives an interest in the proceeds of the indebtedness secured by the mortgage or lien to the extent of the partial satisfaction, subject only to the creditor’s prior right to recover the balance of the indebtedness owed by the mortgagor or grantor.
(Added to NRS by 1987, 1643)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.501 - Definitions.

As used in NRS 40.501 to 40.512, inclusive, the words and terms defined in NRS 40.502 to 40.506, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 1993, 153; A 1995, 510)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.502 - "Environmental provision" defined.

"Environmental provision" means any written representation, warranty, indemnity, promise or covenant relating to the existence, location, nature, use, generation, manufacture, storage, disposal, handling, or past, present, future or threatened release of any hazardous substance from, in, into or onto real collateral, or to past, present or future compliance with any law relating thereto, made by a debtor in conjunction with the making, renewal or modification of a loan, extension of credit, guaranty or other obligation involving the debtor, whether or not the representation, warranty, indemnity, promise or covenant is or was contained in or secured by the mortgage and whether or not the mortgage has been discharged, reconveyed or foreclosed upon.
(Added to NRS by 1993, 153; A 1995, 510)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.503 - "Environmentally impaired" defined.

Real collateral is "environmentally impaired" if the estimated costs to clean up and remedy a past, present or threatened release of any hazardous substance from, in, into or onto it exceeds 10 percent of the total indebtedness owed to the secured lender secured by the collateral.
(Added to NRS by 1993, 153; A 1995, 510)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.504 - "Hazardous substance" defined.

"Hazardous substance" means:
1. An element, compound, mixture, solution, material or substance whose use, possession, transportation, storage, release, discharge or disposal is regulated pursuant to chapter 444, 445A, 445B, 445C, 459, 477 or 618 of NRS;
2. An element, compound, mixture, solution, material or substance designated as a hazardous substance pursuant to 42 U.S.C. § 9602 and an element, compound, mixture, solution, material or substance described in 42 U.S.C. § 9601(14);
3. An element, compound, mixture, solution, material or substance listed as a hazardous waste in, or having the characteristics identified in, 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. §§ 6901 et seq., has been suspended by an act of Congress; and
4. Petroleum, including crude oil or any fraction thereof, natural gas, natural gas liquids, liquefied natural gas, synthetic oil, synthetic gas usable for fuel or any mixture thereof.
(Added to NRS by 1993, 153; A 1995, 510; 2023, 603)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.505 - "Release" defined.

"Release" means a spilling, leaking, pumping, pouring, emitting, emptying, discharging, ejecting, escaping, leaching, dumping or disposing of a hazardous substance into the environment, including continuing migration into or through the soil, surface water or groundwater.
(Added to NRS by 1993, 153; A 1995, 510)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.507 - Right of entry and inspection of real collateral.

1. A secured lender may enter and inspect real collateral for the purpose of determining the existence, location, nature and magnitude of any past, present or threatened release or presence of a hazardous substance from, in, into or onto it:
(a) Upon reasonable belief of the existence of a past, present or threatened release or the presence of any hazardous substance from, in, into or onto it not previously disclosed in writing to the secured lender in conjunction with the making, renewal or modification of a loan, extension of credit, guaranty or other obligation involving the debtor; or
(b) After the commencement of a trustee’s sale or judicial foreclosure proceedings against the real collateral.
2. A secured lender shall not abuse the right of entry and inspection or use it to harass the debtor or tenant of the property. Except in case of an emergency, when the debtor or tenant of the property has abandoned the premises, or if it is impracticable to do so, a secured lender shall give the debtor or tenant of the property reasonable notice of intent to enter, and enter only during the debtor’s or tenant’s normal business hours. Twenty-four hours’ notice is presumed to be reasonable in the absence of evidence to the contrary.
3. If a secured lender is refused the right of entry and inspection by the debtor or tenant of the property, or is otherwise unable to enter and inspect the property without a breach of the peace, the secured lender may, upon petition, obtain an order from a court of competent jurisdiction to exercise the secured lender’s rights under subsection 1.
(Added to NRS by 1993, 154; A 1995, 510)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.509 - Limitation on amount of damages recoverable in action concerning environmental provision; recovery of interest.

1. Unless the environmental provision expressly permits a different or greater recovery or subsection 2 permits the addition of interest, the damages recoverable by a secured lender in an action pursuant to NRS 40.508 are limited to the sum of reimbursement or indemnification for:
(a) If the secured lender acted pursuant to an order of any federal, state or local governmental agency relating to the cleaning up, remedying or other responsive action required by applicable law which is anticipated by the environmental provision, all amounts reasonably advanced in good faith by the secured lender in connection therewith;
(b) If the secured lender did not act pursuant to such an order, those costs relating to a reasonable cleaning up, remedying or other responsive action concerning hazardous substances, performed in good faith, which is anticipated by the environmental provision;
(c) All liabilities of the secured lender to any third party relating to the breach, unless the secured lender had actual knowledge of the environmental condition which is the basis of the claim for indemnification before entering into the transaction in which the environmental provision was given; and
(d) Costs, attorney’s fees and other incidental relief.
2. If the parties have so agreed, the secured lender may recover interest on the amount advanced by the secured lender to cure or mitigate the breach.
(Added to NRS by 1993, 154; A 1995, 510)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.511 - Exceptions to applicability of NRS 40.507 and 40.508.

NRS 40.507 and 40.508 do not apply if the real collateral is a unit put to residential use in a common-interest community or is real property upon which:
1. The owner maintains the owner’s principal residence;
2. There is not more than one residential structure; and
3. Not more than four families reside.
(Added to NRS by 1993, 155; A 1995, 510)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.512 - Environmental impairment of real collateral: Waiver of lien; notice of waiver; exception; recording of waiver.

1. If real collateral is environmentally impaired and the debtor’s obligation is in default, a secured lender may:
(a) Waive the secured lender’s lien as to all of the real collateral and proceed as an unsecured creditor, including reduction of the secured lender’s claim against the debtor to judgment and any other rights and remedies permitted by law; or
(b) Waive the secured lender’s lien in accordance with paragraph (a) as to that part of the real collateral which is environmentally impaired and proceed against the unimpaired real collateral.
2. To waive the secured lender’s lien against all or part of the environmentally impaired real collateral, the secured lender must, before commencement of any action, record with the county recorder of the county where the real collateral is located a notice of intent to waive the lien and mail a copy thereof, by registered or certified mail, return receipt requested, with postage prepaid, to the debtor, to the person who holds the title of record on the date of the notice, and to those persons with an interest, as defined in NRS 107.015, whose interest or claimed interest is subordinate to the secured lender’s lien, at their respective addresses, if known, otherwise to the address of the real collateral. In the case of a partial waiver the notice of intent to waive may be contained in a notice of default and election to sell. The notice of intent to waive must contain:
(a) A legal description of the environmentally impaired real collateral;
(b) A statement that the secured lender intends to proceed against the debtor under the applicable paragraph of subsection 1; and
(c) If the secured lender is proceeding under paragraph (b) of subsection 1, a statement that the secured lender will proceed against the unimpaired property, which may result in a judgment for deficiency against the debtor as a result of diminution in value of the collateral because of the exclusion of the environmentally impaired portion.
3. A secured lender may not waive the secured lender’s lien as a result of any environmental impairment if the secured lender had actual knowledge of the environmental impairment at the time the lien was created. In determining whether a secured lender had such knowledge, the report of any person legally entitled to prepare the report with respect to the existence or absence of any environmental impairment is prima facie evidence of the existence or absence, as the case may be, of any environmental impairment.
4. A waiver made by a secured lender pursuant to this section is not final or conclusive until a final judgment, as defined in subsection 4 of NRS 40.435, has been obtained. If the waiver covers the full extent of the collateral, the secured lender shall immediately thereafter cause the secured lender’s lien to be released by recording the waiver in the same manner as the lien was recorded.
(Added to NRS by 1993, 155; A 1995, 510; 2019, 1374)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.515 - Petition, notice, hearing and order; alternative method of terminating interest.

1. If any person has died, or shall hereafter die, who at the time of the person’s death was the owner of a life estate which terminates by reason of the person’s death, any person interested in the property, or in the title thereto, in which such life estate was held, may file in the district court of the county in which the property is situated, the person’s verified petition, setting forth such facts, and thereupon and after such notice by publication or otherwise, as the court or judge may order, the court or judge shall hear such petition and the evidence offered in support thereof, and if upon such hearing it shall appear that such life estate of such deceased person absolutely terminated by reason of the person’s death, the court or judge shall make an order to that effect, and thereupon a certified copy of such order may be recorded in the office of the county recorder.
2. As an alternative method of terminating the interest of any person who has died, or will hereafter die, and who at the time of the person’s death was the owner of a life estate which terminates by reason of the person’s death, any person who has knowledge of the facts may record in the office of the county recorder in the county where the property is situated an affidavit meeting the requirements of NRS 111.365, accompanied by a certified copy of the death certificate of the deceased person.
[1911 CPA § 642; RL § 5584; NCL § 9131]—(NRS A 2015, 3520)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.525 - Petition; notice; hearing and order; alternative method.

1. If title or an interest in real or personal property is affected by the death of any person, any other person who claims any interest in the real or personal property, if the other person’s interest is affected by the death of the deceased person, or the State of Nevada, may file in the district court of any county in which any part of the real or personal property is situated a verified petition setting forth those facts and particularly describing the real or personal property, the interest of the petitioner and the interest of the deceased person therein.
2. The clerk shall set the petition for hearing by the court. Notice of hearing of the petition must be mailed, by certified mail, return receipt requested, postage prepaid, to the heirs at law of the deceased person at their places of business or residences, if known, and if not, by publication for at least 3 successive weeks in such newspaper as the court orders. The clerk shall send a copy of the notice of hearing or of the affidavit to the Department of Health and Human Services by certified mail, return receipt requested, postage prepaid, if the State is not the petitioner, at the time notice is mailed to the heirs at law or the notice is published. Failure on the part of any such heir at law to contest the petition precludes any such heir at law from thereafter contesting the validity of the joint interest or its creation or termination.
3. The court shall take evidence for or against the petition, and may render judgment thereon establishing the fact of the death and the termination of the interest of the deceased person in the real or personal property described in the petition.
4. A certified copy of the decree may be recorded in the office of the recorder of each county in which any part of the real or personal property is situated.
5. As an alternative method of terminating the interest of the deceased person, if title or an interest in real or personal property held in joint tenancy or as community property with right of survivorship is affected by the death of a joint tenant or spouse, any person who has knowledge of the facts may record in the office of the county recorder in the county where the property is situated an affidavit meeting the requirements of NRS 111.365, accompanied by a certified copy of the death certificate of the deceased person.
[1:18:1939; A 1951, 172]—(NRS A 1963, 802; 1965, 665, 1004; 1983, 666; 1991, 457; 1995, 2569; 2001, 1750; 2003, 876)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.535 - Affidavit or petition may be filed in probate proceeding.

Any affidavit or petition, such as described in NRS 40.525, may be filed as a part of any probate proceeding.
[1(a):18:1939; added 1951, 172]—(NRS A 1965, 665)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.600 - Definitions.

As used in NRS 40.600 to 40.695, inclusive, unless the context otherwise requires, the words and terms defined in NRS 40.603 to 40.634, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 1995, 2539; A 1997, 2716; 1999, 1440; 2001 Special Session, 67; 2003, 2041; 2015, 9)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.603 - "Amend a complaint to add a cause of action for a constructional defect" defined.

"Amend a complaint to add a cause of action for a constructional defect" means any act by which a claimant seeks to:
1. Add to the pleadings a defective component that is not otherwise included in the pleadings and for which a notice was not previously given; or
2. Amend the pleadings in such a manner that the practical effect is the addition of a constructional defect that is not otherwise included in the pleadings.
The term does not include amending a complaint to plead a different cause for a constructional defect which is included in the same action.
(Added to NRS by 2003, 2034)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.605 - "Appurtenance" defined.

1. "Appurtenance" means a structure, installation, facility, amenity or other improvement that is appurtenant to or benefits one or more residences, but is not a part of the dwelling unit. The term includes, without limitation, the parcel of real property, recreational facilities, golf courses, walls, sidewalks, driveways, landscaping, common elements and limited common elements other than those described in NRS 116.2102, and other structures, installations, facilities and amenities associated with or benefiting one or more residences.
2. As used in this section:
(a) "Common elements" has the meaning ascribed to it in NRS 116.017.
(b) "Limited common element" has the meaning ascribed to it in NRS 116.059.
(Added to NRS by 1995, 2539; A 1997, 2716; 1999, 1440)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.607 - "Builder’s warranty" defined.

"Builder’s warranty" means a warranty issued or purchased by or on behalf of a contractor for the protection of a claimant. The term:
1. Includes a warranty contract issued by or on behalf of a contractor whose liability pursuant to the warranty contract is subsequently insured by a risk retention group that operates in compliance with chapter 695E of NRS and insures all or any part of the liability of a contractor for the cost to repair a constructional defect in a residence.
2. Does not include a policy of insurance for home protection as defined in NRS 690B.100 or a service contract as defined in NRS 690C.080.
(Added to NRS by 1995, 2540; A 1997, 2717; 1999, 1440; 2019, 2259)—(Substituted in revision for NRS 40.625)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.610 - "Claimant" defined.

"Claimant" means:
1. An owner of a residence or appurtenance; or
2. A representative of a homeowners’ association acting within the scope of the representative’s duties pursuant to chapter 116 or 117 of NRS.
(Added to NRS by 1995, 2539; A 1997, 2717; 2003, 2041; 2015, 9)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.615 - "Constructional defect" defined.

"Constructional defect" means a defect in the design, construction, manufacture, repair or landscaping of a new residence, of an alteration of or addition to an existing residence, or of an appurtenance and includes, without limitation, the design, construction, manufacture, repair or landscaping of a new residence, of an alteration of or addition to an existing residence, or of an appurtenance:
1. Which presents an unreasonable risk of injury to a person or property; or
2. Which is not completed in a good and workmanlike manner and proximately causes physical damage to the residence, an appurtenance or the real property to which the residence or appurtenance is affixed.
(Added to NRS by 1995, 2539; A 2003, 2041; 2015, 9)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.620 - "Contractor" defined.

"Contractor" means a person who, with or without a license issued pursuant to chapter 624 of NRS, by himself or herself or through the person’s agents, employees or subcontractors:
1. Develops, constructs, alters, repairs, improves or landscapes a residence, appurtenance or any part thereof;
2. Develops a site for a residence, appurtenance or any part thereof; or
3. Sells a residence or appurtenance, any part of which the person, by himself or herself or through the person’s agents, employees or subcontractors, has developed, constructed, altered, repaired, improved or landscaped.
(Added to NRS by 1995, 2539; A 1997, 2717)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.635 - Applicability; effect on other defenses.

NRS 40.600 to 40.695, inclusive:
1. Apply to any claim that arises before, on or after July 1, 1995, as the result of a constructional defect, except a claim for personal injury or wrongful death, if the claim is the subject of an action commenced on or after July 1, 1995.
2. Prevail over any conflicting law otherwise applicable to the claim or cause of action.
3. Do not bar or limit any defense otherwise available, except as otherwise provided in those sections.
4. Do not create a new theory upon which liability may be based, except as otherwise provided in those sections.
(Added to NRS by 1995, 2540; A 1997, 2717; 2003, 2041; 2015, 10)
2023 Nevada Revised Statutes › Chapter 40 - Actions and Proceedings in Particular Cases Concerning Property › NRS 40.640 - Liability of contractor.

In a claim to recover damages resulting from a constructional defect, a contractor is liable for the contractor’s acts or omissions or the acts or omissions of the contractor’s agents, employees or subcontractors and is not liable for any damages caused by:
1. The acts or omissions of a person other than the contractor or the contractor’s agent, employee or subcontractor;
2. The failure of a person other than the contractor or the contractor’s agent, employee or subcontractor to take reasonable action to reduce the damages or maintain the residence;
3. Normal wear, tear or deterioration;
4. Normal shrinkage, swelling, expansion or settlement; or
5. Any constructional defect disclosed to an owner before the owner’s purchase of the residence, if the disclosure was provided in language that is understandable and was written in underlined and boldfaced type with capital letters.
(Added to NRS by 1995, 2540; A 1997, 2718)