Legal Question in Real Estate Law in Nevada

In Nevada, I had a home where the 1st and 2nd mortgages where secured by a deed of trust. The 1st foreclosed on the property and now the 2nd is asking for repayment. I was told that NV is a one action state and since the 1st foreclosed the 2nd cannot do anything else. Is this ture?


Asked on 1/18/11, 10:40 am

2 Answers from Attorneys
Paul Malikowski Malikowski Law Offices, Ltd.

False. Your attorney can explain further.

Read more
Answered on 1/23/11, 11:11 am
Jeffrey Cogan Jeffrey A. Cogan, Esq., Ltd.

One action means that they should foreclose before they sue you for a deficiency.

Read more
Answered on 1/24/11, 7:14 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Nevada