Nevada Passes Foreclosure Law Requiring Assignments to Be Recorded, and Sworn Statement

Remember Arizona’s Senate Bill 1259 that I worked on with Senator Michele Reagan?  The one that passed the Senate but mysteriously never made it to the House floor for a vote?  The one that was double assigned House committees and the one where the Chair admittedly listened to lobbyists and not Arizona citizens and homeowners?  Well, I was talking to a lawyer who helped author a Nevada version and they got it passed!!  Way to go Nevada!

The full amendment is Nevada Bill Foreclosure and an excerpt regarding the sworn statement is below:

The beneficiary, the successor in interest of the beneficiary

or the trustee first executes and causes to be recorded in the office of

the recorder of the county wherein the trust property, or some part

thereof, is situated a notice of the breach and of the election to sell

or cause to be sold the property to satisfy the obligation

[; and]


which, except as otherwise provided in this paragraph, includes a

notarized affidavit of authority to exercise the power of sale

stating, based on personal knowledge and under the penalty of

perjury:

(1) The full name and business address of the trustee or the

trustee’s personal representative or assignee, the current holder of

the note secured by the deed of trust, the current beneficiary of

record and the servicers of the obligation or debt secured by the

deed of trust;

(2) The full name and last known business address of every

prior known beneficiary of the deed of trust;

(3) That the beneficiary under the deed of trust, the

successor in interest of the beneficiary or the trustee is in actual or

constructive possession of the note secured by the deed of trust;

(4) That the trustee has the authority to exercise the power

of sale with respect to the property pursuant to the instruction of

the beneficiary of record and the current holder of the note

secured by the deed of trust;

(5) The amount in default, the principal amount of the

obligation or debt secured by the deed of trust, a good faith

estimate of all fees imposed and to be imposed because of the

default and the costs and fees charged to the debtor in connection

with the exercise of the power of sale; and

(6) The date, recordation number or other unique

designation of the instrument that conveyed the interest of each

beneficiary and a description of the instrument that conveyed the

interest of each beneficiary.



 

 

The affidavit described in

 

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