Nevada Security Instruments of Public Utilities; Mortgages; Deeds of Trust; Other Liens

Sec. § 107.095
Notice of default: Mailing to guarantor or surety of debt; effect of failure to give.


1.

The notice of default required by NRS 107.080 must also be sent by registered or certified mail, return receipt requested and with postage prepaid or, if authorized by the parties, by electronic transmission to each guarantor or surety of the debt. If the address of the guarantor or surety is unknown, the notice must be sent to the address of the trust property. Failure to give the notice, except as otherwise provided in subsection 3, releases the guarantor or surety from his or her obligation to the beneficiary, but does not affect the validity of a sale conducted pursuant to NRS 107.080 or the obligation of any guarantor or surety to whom the notice was properly given.

2.

Failure to give the notice of default required by NRS 107.090, except as otherwise provided in subsection 3, releases the obligation to the beneficiary of any person who has complied with NRS 107.090 and who is or may otherwise be held liable for the debt or other obligation secured by the deed of trust, but such a failure does not affect the validity of a sale conducted pursuant to NRS 107.080 or the obligation of any person to whom the notice was properly given pursuant to this section or to NRS 107.080 or 107.090.

3.

A guarantor, surety or other obligor is not released pursuant to this section if:

(a)

The required notice is given at least 15 days before the later of:

(1)

The expiration of the 15- or 35-day period described in paragraph (a) of subsection 2 of NRS 107.080;

(2)

In the case of any deed of trust which concerns owner-occupied housing, the expiration of the period described in paragraph (a) of subsection 1 of NRS 107.0805; or

(3)

Any extension of the applicable period by the beneficiary; or

(b)

The notice is rescinded before the sale is advertised.
Source

Last accessed
Feb. 5, 2021