1. Upon the assignor’s default, or as otherwise agreed by the assignor, the assignee may give the assignor a notification demanding that the assignor pay over the proceeds of any rents that the assignee is entitled to collect under NRS 107A.250. The assignee shall also give a copy of the notification to any other person that, 10 days before the notification date, held a recorded assignment of rents arising from the real property.
2. If an assignee enforces an assignment of rents under this section, the date of enforcement is the date on which the assignor receives a notification under subsection 1.
3. An assignee’s failure to give a notification under subsection 1 to any person holding a recorded assignment of rents does not affect the effectiveness of the notification as to the assignor, but the other person is entitled to any relief permitted under law of this State other than this chapter.
4. An assignee that holds a security interest in rents solely by virtue of subsection 1 of NRS 107A.230 may not enforce the security interest under this section while the assignor occupies the real property as the assignor’s primary residence.
(Added to NRS by 2007, 301)
Structure Nevada Revised Statutes
Chapter 107A - Assignment of Rents (Uniform Act)
NRS 107A.030 - "Assignee" defined.
NRS 107A.040 - "Assignment of rents" defined.
NRS 107A.050 - "Assignor" defined.
NRS 107A.060 - "Cash proceeds" defined.
NRS 107A.080 - "Deposit account" defined.
NRS 107A.090 - "Document" defined.
NRS 107A.100 - "Notification" defined.
NRS 107A.110 - "Person" defined.
NRS 107A.120 - "Proceeds" defined.
NRS 107A.130 - "Purchase" defined.
NRS 107A.140 - "Rents" defined.
NRS 107A.150 - "Secured obligation" defined.
NRS 107A.160 - "Security instrument" defined.
NRS 107A.170 - "Security interest" defined.
NRS 107A.180 - "Sign" defined.
NRS 107A.190 - "State" defined.
NRS 107A.200 - "Submit for recording" defined.
NRS 107A.210 - "Tenant" defined.
NRS 107A.220 - Manner of giving notification.
NRS 107A.250 - Enforcement of security interest in rents.
NRS 107A.260 - Enforcement by appointment of receiver.
NRS 107A.270 - Enforcement by notification to assignor.
NRS 107A.280 - Enforcement by notification to tenant.
NRS 107A.290 - Notification to tenant: Form.
NRS 107A.300 - Effect of enforcement.
NRS 107A.310 - Application of proceeds.
NRS 107A.330 - Turnover of rents; commingling and identifiability of rents; liability of assignor.
NRS 107A.340 - Perfection and priority of assignee’s security interest in proceeds.
NRS 107A.350 - Priority subject to subordination.
NRS 107A.360 - Uniformity of application and construction.
NRS 107A.370 - Relation to Electronic Signatures in Global and National Commerce Act.