NRS 361.7326 Redemption of tax lien after assignment: Amount of required payment; issuance, contents and recording of release of lien.

244 words·~1 min read·/nv/chapter-361-property-tax/361-7326·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. An owner of property may redeem a tax lien assigned pursuant to the provisions of NRS 361.7303 to 361.733 , inclusive, without a prepayment penalty at any time after the assignment by paying the amounts owed to the assignee under the agreement entered into pursuant to NRS 361.7311 .

2. If an owner who redeems the tax lien has been served with a summons pursuant to NRS 361.670 , the owner must pay the costs incurred by the assignee to commence the action.

3. Within 20 business days after the redemption of the tax lien, the assignee shall issue a release of the lien to the owner.

4. A release issued pursuant to subsection 3 must include:

(a)The legal description and parcel number of the property which is the subject of the tax lien;

(b)The year or years for which the taxes related to the lien were assessed on the parcel;

(c)The recording information for the documents recorded pursuant to subsection 3 of NRS 361.7311 ; and

(d)The date the tax lien is redeemed.

5. The assignee shall:

(a)Cause the release to be recorded in the office of the county recorder of the county in which the property is located; and

(b)Cause a copy of the release to be sent to the county treasurer of that county.