Nevada Revised Statutes 107A.300 – Effect of enforcement
Current as of: 2022 | Check for updates
|
Other versions
The enforcement of an assignment of rents by one or more of the methods identified in NRS 107A.260, 107A.270 and 107A.280, the application of proceeds by the assignee under NRS 107A.310 after enforcement, the payment of expenses under NRS 107A.320 or an action under subsection 3 of NRS 107A.330 does not:
Terms Used In Nevada Revised Statutes 107A.300
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
1. Make the assignee a mortgagee in possession of the real property;
2. Make the assignee an agent of the assignor;
3. Constitute an election of remedies that precludes a later action to enforce the secured obligation;
4. Make the secured obligation unenforceable;
5. Limit any right available to the assignee with respect to the secured obligation; or
6. Violate the provisions of NRS 40.430.