Nevada Revised Statutes 107.450 – ‘Residential mortgage loan’ defined
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‘Residential mortgage loan’ means a loan which is primarily for personal, family or household use and which is secured by a mortgage or deed of trust on owner-occupied housing.
Terms Used In Nevada Revised Statutes 107.450
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
- Owner-occupied housing: means housing that is occupied by an owner as the owner"s primary residence. See Nevada Revised Statutes 107.015