Nevada Revenue and Taxation

Sec. § 361.7311
Agreements for assignment of tax liens.


1.

If any taxes assessed against a parcel of real property pursuant to this chapter are delinquent and the requirements of NRS 361.7316 are otherwise satisfied, an owner of the property may authorize the county treasurer of the county in which the property is located to assign to an assignee the tax lien on the property. Any such authorization must be in writing and acknowledged by the owner before a notary public.

2.

An authorization given pursuant to this section must be made pursuant to a separate written agreement between the owner and the assignee. The agreement:

(a)

Must provide that:

(1)

The owner may redeem the tax lien by paying to the assignee the amounts required by the agreement, in the manner provided by the agreement; and

(2)

The assignee is required to issue a release of the tax lien to the owner within 20 business days after the owner pays in full the amounts required by the agreement and otherwise fully performs the owner’s obligations under the agreement.

(b)

May provide for payment by the owner to the assignee of:

(1)

The amount paid by the assignee to the county treasurer pursuant to NRS 361.7312 as consideration for the assignment;

(2)

Fees for recording and other expenses incurred by the assignee in connection with the authorization and assignment, the total of which must not exceed $600 if the property is a single-family residence occupied by the owner;

(3)

Interest on the foregoing amounts, until paid as provided by the agreement, at a rate not to exceed 15 percent per annum; and

(4)

Any costs reasonably and necessarily incurred by the assignee to enforce the agreement or the tax lien, including, without limitation, attorney’s fees and costs of suit, if the owner does not redeem the lien or otherwise does not perform in accordance with the agreement.

(c)

May provide for either or both of the following remedies if the owner fails to redeem the tax lien or otherwise fails to perform in accordance with the agreement:

(1)

An action by the assignee for collection of the amounts due pursuant to the agreement, as provided by law for the enforcement of contracts in writing; and

(2)

An action by the assignee for collection of the taxes, penalties, interest, fees and costs relating to the tax lien, in the manner provided by NRS 361.625 to 361.730, inclusive, except insofar as any provision of those sections applies only to the district attorney of the county or an action commenced by the district attorney.

3.

The assignee shall cause the agreement described in subsection 2, with the certificate of assignment of the tax lien issued pursuant to NRS 361.7318, to be recorded in the office of the county recorder of the county in which the property is located.
Source

Last accessed
Feb. 5, 2021