Nevada Revised Statutes 645F.370 – ‘Residence in foreclosure’ defined
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‘Residence in foreclosure‘ means residential real property consisting of not more than four family dwelling units and against which there is an outstanding notice of the pendency of an action for foreclosure recorded pursuant to NRS 14.010 or notice of default and election to sell recorded pursuant to NRS 107.080.
Terms Used In Nevada Revised Statutes 645F.370
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.