Nevada Revised Statutes 107A.240 – Recordation; perfection of security interest in rents; priority of conflicting interests in rents
1. A document creating an assignment of rents may be submitted for recording in the office of the recorder of the county in which the real property is located in the same manner as any other document evidencing a conveyance of an interest in real property.
Terms Used In Nevada Revised Statutes 107A.240
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
2. Upon recording, the security interest in rents created by an assignment of rents is fully perfected, even if a provision of the document creating the assignment or law of this State other than this chapter would preclude or defer enforcement of the security interest until the occurrence of a subsequent event, including, without limitation, a subsequent default of the assignor, the assignee’s obtaining possession of the real property or the appointment of a receiver.
3. Except as otherwise provided in subsection 4, a perfected security interest in rents takes priority over the rights of a person that, after the security interest is perfected:
(a) Acquires a judicial lien against the rents or the real property from which the rents arise; or
(b) Purchases an interest in the rents or the real property from which the rents arise.
4. A perfected security interest in rents has priority over the rights of a person described in subsection 3 with respect to future advances to the same extent as the assignee’s security interest in the real property has priority over the rights of that person with respect to future advances.