NRS 104.9604
Procedure if security agreement covers real property or fixtures.

1.

If a security agreement covers both personal and real property, a secured party may proceed:

(a)

Under this part as to the personal property without prejudicing any rights with respect to the real property; or

(b)

As to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this part do not apply.

2.

Subject to subsection 3, if a security agreement covers goods that are or become fixtures, a secured party may proceed:

(a)

Under this part; or

(b)

In accordance with the rights with respect to real property, in which case the other provisions of this part do not apply.

3.

Subject to the other provisions of this part, if a secured party holding a security interest in fixtures has priority over all owners and encumbrancers of the real property, the secured party, after default, may remove the collateral from the real property.

4.

A secured party that removes collateral shall promptly reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury caused by the removal. The secured party need not reimburse the encumbrancer or owner for any diminution in value of the real property caused by the absence of the goods removed or by any necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.

Source: Section 104.9604 — Procedure if security agreement covers real property or fixtures., https://www.­leg.­state.­nv.­us/NRS/NRS-104.­html#NRS104Sec9604.

104.9601
Rights after default 104.9602
Waiver and variance of rights and duties of debtor and obligor. 104.9603
Agreement on standards concerning rights and duties of parties. 104.9604
Procedure if security agreement covers real property or fixtures. 104.9605
Duty to unknown debtor or secondary obligor. 104.9606
Time of default for agricultural lien. 104.9607
Collection and enforcement by secured party. 104.9608
Application of proceeds of collection or enforcement 104.9609
Secured party’s right to take possession or dispose of collateral after default. 104.9610
Disposition of collateral after default. 104.9611
Notification before disposition of collateral. 104.9612
Timeliness of notification before disposition of collateral. 104.9613
Contents and form of notification before disposition of collateral: General. 104.9614
Contents and form of notification before disposition of collateral: Consumer-goods transaction. 104.9615
Application of proceeds of disposition 104.9616
Explanation of calculation of surplus or deficiency. 104.9617
Effect of disposition of collateral by secured party after default 104.9618
Rights and duties of certain secondary obligors. 104.9619
Transfer of record or legal title. 104.9620
Acceptance of collateral in full or partial satisfaction of obligation 104.9621
Notification of proposal to accept collateral in satisfaction of obligation. 104.9622
Effect of acceptance of collateral in satisfaction of obligation. 104.9623
Redemption of collateral. 104.9624
Waiver of right to notification of disposition of collateral 104.9625
Remedies for secured party’s failure to comply with article. 104.9626
Action in which deficiency or surplus is in issue. 104.9627
Determination of whether conduct was commercially reasonable. 104.9628
Nonliability and limitation on liability of secured party
Last Updated

Feb. 5, 2021

§ 104.9604’s source at nv​.us