NRS 116B.655 Foreclosure of liens: Effect of recitals in deed; purchaser not responsible for proper application of purchase money; title vested in purchaser without equity or right of redemption.
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NRS 116B.655 Foreclosure of liens: Effect of recitals in deed; purchaser not responsible for proper application of purchase money; title vested in purchaser without equity or right of redemption.
1. The recitals in a deed of a foreclosed unit made pursuant to NRS 116B.650 of:
(a)Default, the mailing of the notice of delinquent assessment or charge, and the recording of the notice of default and election to sell;
(b)The elapsing of the 90 days; and
(c)The giving of notice of sale,
Ê are conclusive proof of the matters recited.
2. Such a deed containing those recitals is conclusive against the residential unit’s former owner, his or her heirs and assigns, and all other persons. The receipt for the purchase money contained in such a deed is sufficient to discharge the purchaser from obligation to see to the proper application of the purchase money.
3. The sale of a residential unit pursuant to the foreclosure procedures of this chapter vests in the purchaser the title of the unit’s owner without equity or right of redemption.