Most foreclosures of Nevada property occur according to the power of sale terms set forth in the loan documents for that property. If the power of sale terms are silent as to public notice then a Notice of Default and Election to Sell must be recorded in the county where the property is located. The intended foreclosure sale date must be at least three months after the date that the Notice of Default and Election to Sell is recorded with the county.
Rarely, judicial foreclosure is used in Nevada. When a lender does file a foreclosure lawsuit the judge can set the public notice terms for the sale.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure attorney to discuss your specific legal situation.