Legal Question in Real Estate Law in Nevada
Deed of Trust
During a foreclosure preceding, ( notice of sale period ) can the beneficiary of a note secured by a deed of trust refuse repayment of the note in-full if it is less than 15 to the auction?
Asked on 8/23/06, 3:13 pm
1 Answer from Attorneys
mark albright
albright stoddard warnick & albright
Re: Deed of Trust
(Reference NRS 107.080 - 107.082)
There is nothing in Nevada law that allows a "beneficiary" or trustee to refuse payment in full before the foreclosure/trust deed sale. The courts won't even allow any provisions in the note that would potentially "clog" title.
Of course, the trustee can require the "payoff" to include all costs, fees and atty fees to that date, along with the principle interest and any fees due on the note.
Answered on 8/23/06, 5:38 pm
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