Legal Question in Real Estate Law in Nevada

Rental property

I live in California but have a rental property in Nevada. The property has depressiated significantly and it's difficult to come up with extra money every month to pay mortgage + HOA, etc. Can I walk away from the property without any legal obligations. What are my options for ''getting rid'' of it without having to owe money to the bank? Thank you


Asked on 2/17/09, 4:32 pm

1 Answer from Attorneys
James Smith James E. Smith Ltd.

Re: Rental property

You will be obligated unless you can do a "short sale" or a "deed in lieu of foreclosure."

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Answered on 2/17/09, 6:20 pm


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