Nevada Supreme Court Clarifies AB 273 and NRS 40.459

The Nevada Supreme Court issued a recent decision clarifying that  Assembly Bill 273 applies to  judicial foreclosure sales or trustee sales that occur on or after the effective date of the statute.  The court held  “Accordingly, we conclude that the right to deficiency vests upon the sale pursuant to a judicial foreclosure or trustees sale, and thus applying NRS 40. 459 (1)(c) to deficiencies arising from sales that took place before that provision was enacted would effect vested rights.”   Sandpointe Apartments, LLC v. The Eighth Judicial District Court, 129 Nev. Adv. Op.  87  (2013).

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