Nevada Revised Statutes 108.236 – Court must declare rank of lien claimants or class of lien claimants; application of proceeds
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1. In every case in which different liens are asserted against any property, the court, in the judgment, must declare the rank of each lien claimant or class of lien claimants in the following order:
Terms Used In Nevada Revised Statutes 108.236
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
(a) First: All labor whether performed at the instance or direction of the owner, the subcontractor or the prime contractor.
(b) Second: Material suppliers and lessors of equipment.
(c) Third: All other lien claimants who have performed their work, in whole or in part, under contract with the prime contractor or any subcontractor.
(d) Fourth: All other lien claimants.
2. The proceeds of the sale of the property must be applied to each lien claimant or class of lien claimants in the order of its rank.