NRS 106.345 – “Principal” defined.
“Principal” means the money a lender advances to a borrower as a loan which, separately or together with other advances, is intended to be evidenced by the face amount of a note, bond or other similar document. The term does not include any interest, advances made to protect security or advances which would not have […]
NRS 106.350 – Applicability.
The provisions of NRS 106.300 to 106.400, inclusive, apply only to an instrument or supplement or amendment to an instrument that states clearly that it is to be governed by those provisions. (Added to NRS by 1985, 726; A 1989, 492)
NRS 106.360 – Execution, enforceability, contents and amendment of instrument.
1. A borrower may execute an instrument encumbering the borrower’s real property to secure future advances from a lender within a mutually agreed maximum amount of principal. The instrument or an amendment to the instrument is enforceable only if the instrument or the amendment is recorded in the office of the county recorder of the […]
NRS 106.370 – Priority of lien.
1. The priority of a lien for future advances dates from the time that the instrument is recorded in the office of the county recorder of the county in which the property is located, whether or not the: (a) Future advances are obligatory or at the option of the lender; or (b) Lender has notice […]
NRS 106.240 – Extinguishment of lien created by mortgage or deed of trust upon real property.
The lien heretofore or hereafter created of any mortgage or deed of trust upon any real property, appearing of record, and not otherwise satisfied and discharged of record, shall at the expiration of 10 years after the debt secured by the mortgage or deed of trust according to the terms thereof or any recorded written […]
NRS 106.260 – Discharge and assignment: Marginal entries; discharge or release must be recorded when mortgage or lien recorded by microfilm.
1. Any mortgage or lien, that has been or may hereafter be recorded, may be discharged or assigned by an entry on the margin of the record thereof, signed by the mortgagee or the mortgagee’s personal representative or assignee, acknowledging the satisfaction of or value received for the mortgage or lien and the debt secured […]
NRS 106.270 – Discharge of mortgages on filing of certificates specifying satisfaction or payment.
Any recorded mortgage shall also be discharged upon the record thereof by the recorder in whose custody it shall be, whenever there shall be presented to the recorder a certificate executed by the mortgagee, the mortgagee’s personal representative or assignee, acknowledged, or proved and certified, as prescribed in NRS, to entitle conveyances to be recorded, […]
NRS 106.280 – Certificates of discharge: Recording.
Every certificate of discharge of a recorded mortgage, and the proof or acknowledgment thereof, must be recorded at full length, and a reference must be made to the county book containing such record in the minutes of the discharge of such mortgage made by the recorder upon the record thereof. [37:9:1861; A 1935, 253; 1931 […]
NRS 106.290 – Recording of discharge of mortgage by mortgagee; liability for failure to record discharge; requirements for release of mortgage when discharge not recorded; liability for improperly recording release; criminal penalty.
1. Within 21 calendar days after receiving written notice that a debt secured by a mortgage has been paid or otherwise satisfied or discharged, the mortgagee shall cause a discharge of the mortgage to be recorded pursuant to NRS 106.260 or 106.270 if the mortgagor, the mortgagor’s heirs or assigns have fully performed the conditions […]
NRS 106.050 – Parties may enter into different or additional covenants.
Nothing in NRS 106.020 to 106.040, inclusive, prevents the parties to any mortgage from entering into any other, different or additional covenants or agreements than those set out in NRS 106.020 or 106.025. [5:109:1927; NCL § 4334]—(NRS A 1967, 126; 1985, 237)