Nevada Foreclosure Law

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Nevada Foreclosure Laws

Typical Nevada Foreclosure Time Frame – Typical Nevada foreclosure times are approximately 120 days.

Judicial Foreclosure – Yes

Non-Judicial Foreclosure – Yes

Types of Security Instruments – Mortgage and Deed of Trust

Right of Redemption Period – In a judicial foreclosure only.

Nevada foreclosure laws provide for both judicial and non-judicial foreclosures in the event that a borrower defaults in a mortgage.  The most common type of foreclosure is a non-judicial; however, lenders can seek a judicial foreclosure if the mortgage or deed of trust does not include a Power of Sale clause or stipulation.

According to Nevada foreclosure law, in the event that the clause is absent from the mortgage contract the lender is required to sue the borrower in court to obtain an Order of Sale and a Decree of Foreclosure.  In the event of a judicial foreclosure, the court also has the option of awarding a right of redemption period of up to 365 days or one year depending upon circumstances.

For a non-judicial foreclosure in Nevada, the terms and conditions set forth in the Power of Sale clause must be followed exactly.  If the time, location, and terms of the sale are not set forth in the power of sale clause then Nevada foreclosure laws require the following terms to be followed.

A Notice of Default and Election to sell must be filed at the courthouse in the county with jurisdiction over the property.  A copy of the notice is also mailed by certified mail to the borrower at the last known address.  The borrower has 35 days from the date of the notice in order to correct the default and keep the property.

If the borrower intends to correct the default they must file with the courthouse a Notice of Intent to Cure a minimum of 15 days before the date of the sale.  The money to pay the default must be paid by noon on the day preceding the sale.

There are some mortgage contracts or deeds of trust that include an acceleration if a default occurs.  If your mortgage or deed of trust includes this then the entire balance of the loan that is due can be required in the Notice of Default and Election to sell.  However, under Nevada foreclosure law if the borrower corrects the defaulted amount, plus all costs associated with the foreclosure within the 35-day period the acceleration is not permitted.

The date of the sale of the property must be no sooner than three months after the Notice of Default and Election to Sell is filed.  The sale itself is required to be held at the exact time, date and location set forth in the notice.  The successful bidder from the auction receives a trustee’s deed for the property.

Nevada foreclosure laws do allow the lenders to bid on the property.  Most lenders take this opportunity to bid in the amount of the balance of the loan, plus costs associated.  However, if no other bidders bid on the property it automatically is reverted to the lender.

In Nevada the lender, upon the completion of the sale, has a period of three months in which to file for a deficiency suit against the borrower.  The borrower however has no right of redemption period in a non-judicial foreclosure and only the period that the court orders in a judicial foreclosure.

For more information on Nevada foreclosure laws click here.


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The information found on this site is not intended to be legal advice. The foreclosure process is highly case specific and laws vary throughout the United States. Please seek professional legal counsel before entering into any contract regarding any real property or stopping the foreclosure on any real property. By using this site you consent to the terms posted here.