Conveyance of real property pursuant to agreement for deed in lieu of foreclosure must be recorded by deed; civil liability for failure to record deed.

NRS

111.311

Conveyance of real property pursuant to agreement for deed in lieu of foreclosure must be recorded by deed; civil liability for failure to record deed.

1. After the conveyance of real property pursuant to an agreement for a deed in lieu of a foreclosure sale, the grantee shall, within 30 days after the date of the conveyance, record the conveyance by recording a deed in the office of the county recorder of the county in which the property is located.

2. If the grantee fails to record a deed pursuant to subsection 1, the grantee is liable in a civil action:

(a) To a grantor of the deed in lieu of foreclosure or any party that is a senior lienholder against the property that is the subject of the sale in a sum of up to $500 and for reasonable attorney’s fees and the costs of bringing the action; and

(b) For any actual damages caused by the failure to comply with the provisions of subsection 1 and for reasonable attorney’s fees and the costs of bringing the action.

(Added to NRS by 2015, 475 )