Nevada Revised Statutes 705.030 – Contract reserving title or lien as security for full payment
Current as of: 2023 | Check for updates
|
Other versions
In any contract for the sale of railroad or street railway equipment or rolling stock, it shall be lawful to agree that title to the property sold or contracted to be sold, although possession thereof may be delivered immediately or at any time or times subsequently, shall not vest in the purchaser until the purchase price shall be fully paid, or that the seller shall have and retain a lien thereon for the unpaid purchase money.
Terms Used In Nevada Revised Statutes 705.030
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.