Existing law provides that in an action for the foreclosure of a mortgage upon real property, or affecting the title or possession of real property, a notice of pendency of the action is required to be recorded with the recorder of the county in which the property, or some part thereof, is situated. (NRS 14.010) After such a notice has been recorded with the recorder of the county, existing law authorizes a defendant or, in certain circumstances, a plaintiff, to request a hearing on the notice. (NRS 14.015) Existing law also: (1) sets forth the circumstances under which a court is required to order the cancellation of the notice; and (2) requires a copy of an order of cancellation to be recorded with the recorder of the county. (NRS 14.015, 14.017) Sections 1 and 4 of this bill require a notice of pendency of the action to be recorded with the recorder of each county in which the affected property, or any part thereof, is situated. Section 2 of this bill authorizes a hearing to be requested on the notice after the notice is recorded, regardless of whether the notice was properly recorded with the recorder of each county in which the property, or any part thereof, is situated. Sections 2 and 3 of this bill require a copy of an order for the cancellation of a notice of pendency of the action to be recorded with the recorder of each county in which the notice was recorded. Sections 10-13 of this bill revise certain requirements concerning the sale of real property pursuant to a trustee's power of sale to clarify the applicability of those requirements with respect to real property that is located in more than one county. Existing law requires a notice of default and election to sell real property subject to a deed of trust and certain documents relating to the mediation process for owner-occupied housing to be recorded in the office of the recorder of the county wherein the trust property, or some part thereof, is situated. (NRS 107.080, 107.0805, 107.086, 107.0865) Sections 10-13 require such documents to be recorded in the office of the recorder of each county wherein the trust property, or any part thereof, is situated. Existing law requires a notice of sale of real property pursuant to a trustee's power of sale to be posted in a public place and published in a newspaper of general circulation in the county where the property is situated. (NRS 107.080) Section 10 of this bill requires such notice to be posted in a public place and published in a newspaper in each county where the property is situated. Existing law requires a trustee to, within 30 days after the date of the sale, record the trustee's deed upon sale in the office of the county recorder of the county in which the property is located. (NRS 107.080) Section 10 requires a trustee's deed upon sale to be recorded in the office of the county recorder of each county in which the property is located. Existing law defines “hazardous substance” for the purpose of determining when a secured lender may enter and inspect certain real collateral. (NRS 40.504) Section 6 of this bill removes from that definition a reference to the Uniform Fire Code. Existing law requires any instrument by which any mortgage or deed of trust of, lien upon or interest in real property is subordinated or waived as to priority concerning one or more other mortgages or deeds of trust of, liens upon or interests in real property to be recorded in the office of the recorder of the county in which the property is located. (NRS 106.220) Section 7 of this bill revises that language to clarify the instruments to which that requirement applies. Existing law establishes provisions governing the effect of a sale of residential property that is not a residential foreclosure on an existing lease or rental agreement. Existing law, in general: (1) provides that an existing lease or rental agreement regarding the property remains in effect; and (2) sets forth the duties and obligations of the new owner and the tenant or subtenant. (NRS 40.255) Sections 5 and 14 of this bill revise and move those provisions from chapter 40 of the Nevada Revised Statutes, which governs certain actions and proceedings concerning property, to chapter 118A of the Nevada Revised Statutes, which is the Residential Landlord and Tenant Act. Existing law exempts from the provisions of the Residential Landlord and Tenant Act any occupancy under a contract of sale of a dwelling unit or the property of which it is a part, if the occupant is the purchaser or his or her successor in interest. (NRS 118A.180) Section 15 of this bill similarly exempts from the provisions of the Act any occupancy under an agreement for the purchase and sale of a dwelling unit or the property of which it is a part for a period of 90 days or less, if the occupant is the seller or his or her successor in interest. Existing law defines “surety” and “surety bond” for the purposes of the provisions of existing law governing deeds of trust. (NRS 107.015) Sections 8 and 9 of this bill clarify that those definitions apply only to provisions of existing law setting forth certain procedures for the reconveyance of a deed of trust when the beneficiary cannot be located or refuses to execute and deliver a proper request for reconveyance. Existing law entitles a real estate broker to a claim upon certain net proceeds from the disposition of commercial real estate for any commission earned by the real estate broker pursuant to a brokerage agreement. (NRS 645.8761) If a real estate broker serves an owner of commercial real estate with notice of a claim for a commission and the owner denies the claim or fails to timely notify the broker, existing law: (1) authorizes the broker to record the notice of the claim in the office of the applicable county recorder; and (2) requires the broker to, within 3 days after the claim is paid or otherwise satisfied, record a written release of that claim. (NRS 645.8765, 645.8775, 645.8801) Section 16 of this bill specifies that a claim is satisfied when an escrow agent who has reserved from an owner's net proceeds an amount equal to the amount claimed by the broker in his or her recorded claim deposits that amount with the district court of the county where the claim is recorded.

Statutes affected:
As Introduced: 14.010, 14.015, 14.017, 40.090, 40.255, 40.504, 106.220, 107.015, 107.079, 107.080, 107.0805, 107.086, 107.0865, 118A.180, 645.8801
As Enrolled: 14.010, 14.015, 14.017, 40.090, 40.255, 40.504, 106.220, 107.015, 107.079, 107.080, 107.0805, 107.086, 107.0865, 118A.180, 645.8801
BDR: 14.010, 14.015, 14.017, 40.090, 40.255, 40.504, 106.220, 107.015, 107.079, 107.080, 107.0805, 107.086, 107.0865, 118A.180, 645.8801