1.  A mortgage or alienation of any kind, made for the purpose of securing a loan or indebtedness upon the homestead property, is not valid for any purpose, unless the signature of both spouses, when that relationship exists, is obtained to the mortgage or alienation and their signatures are properly acknowledged.

Terms Used In Nevada Revised Statutes 115.040

  • Homestead: means the property consisting of:

    (a) A quantity of land, together with the dwelling house thereon and its appurtenances;

    (b) A mobile home whether or not the underlying land is owned by the claimant; or

    (c) A unit, whether real or personal property, existing pursuant to chapter 116 or 117 of NRS, with any appurtenant limited common elements and its interest in the common elements of the common-interest community, to be selected by both spouses, or either of them, or a single person claiming the homestead. See Nevada Revised Statutes 115.005

  • 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
  • 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

2.  The homestead property shall not be deemed to be abandoned without a declaration thereof in writing, signed and acknowledged by both spouses, or the single person claiming the homestead, and recorded in the same office and in the same manner as the declaration of claim to the homestead is required to be recorded.

3.  If either spouse is not a resident of this State, the signature of the spouse and the acknowledgment thereof is not necessary to the validity of any mortgage or alienation of the homestead before it becomes the homestead of the debtor.

  Previous section
Next section  
 Chapter 115 Contents