Nevada Revised Statutes 107.140 – Sale in lieu of foreclosure sale: Limitations
Current as of: 2022 | Check for updates
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No provision of the laws of this State may be construed to require a sale in lieu of a foreclosure sale to be an arm’s length transaction or to prohibit a sale in lieu of a foreclosure sale that is not an arm’s length transaction.
Terms Used In Nevada Revised Statutes 107.140
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Sale in lieu of a foreclosure sale: has the meaning ascribed to it in NRS 40. See Nevada Revised Statutes 107.015