Nev. Rev. Stat. § 107A.010
Short title
This chapter may be cited as the Uniform Assignment of Rents Act.
Nevada Revised Statutes Chapter 107A — Assignment of Rents (Uniform Act)
Nevada · statute · Nev. Rev. Stat. ch. 107A · 37 active provisions
Provisions
Nev. Rev. Stat. § 107A.020
Definitions
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 107A.030 to 107A.210, inclusive, have the meanings ascribed to them in those sections.
Nev. Rev. Stat. § 107A.030
“Assignee” defined
“Assignee” means a person entitled to enforce an assignment of rents.
Nev. Rev. Stat. § 107A.040
“Assignment of rents” defined
“Assignment of rents” means a transfer of an interest in rents in connection with an obligation secured by real property located in this State and from which the rents arise.
Nev. Rev. Stat. § 107A.050
“Assignor” defined
“Assignor” means a person that makes an assignment of rents or the successor owner of the real property from which the rents arise.
Nev. Rev. Stat. § 107A.060
“Cash proceeds” defined
“Cash proceeds” means proceeds that are money, checks, deposit accounts or the like.
Nev. Rev. Stat. § 107A.070
“Day” defined
“Day” means calendar day.
Nev. Rev. Stat. § 107A.080
“Deposit account” defined
“Deposit account” means a demand, time, savings, passbook or similar account maintained with a bank, savings bank, savings and loan association, credit union or trust company.
Nev. Rev. Stat. § 107A.090
“Document” defined
“Document” means information that is inscribed on a tangible medium or that is stored on an electronic or other medium and is retrievable in perceivable form.
Nev. Rev. Stat. § 107A.100
“Notification” defined
“Notification” means a document containing information that this chapter requires a person to provide to another, signed by the person required to provide the information.
Nev. Rev. Stat. § 107A.110
“Person” defined
“Person” means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity.
Nev. Rev. Stat. § 107A.120
“Proceeds” defined
“Proceeds” means personal property that is received or collected on account of a tenant’s obligation to pay rents.
Nev. Rev. Stat. § 107A.130
“Purchase” defined
“Purchase” means to take by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift or any other voluntary transaction creating an interest in property.
Nev. Rev. Stat. § 107A.140
“Rents” defined
“Rents” means: 1. Sums payable for the right to possess or occupy, or for the actual possession or occupation of, real property of another person; 2. Sums payable to an assignor under a policy of rental interruption insurance covering real property; 3. Claims arising out of a default in the payment of sums payable for…
Nev. Rev. Stat. § 107A.150
“Secured obligation” defined
“Secured obligation” means an obligation the performance of which is secured by an assignment of rents.
Nev. Rev. Stat. § 107A.160
“Security instrument” defined
“Security instrument” means a document, however denominated, that creates or provides for a security interest in real property, whether or not it also creates or provides for a security interest in personal property.
Nev. Rev. Stat. § 107A.170
“Security interest” defined
“Security interest” means an interest in property that arises by agreement and secures performance of an obligation.
Nev. Rev. Stat. § 107A.180
“Sign” defined
“Sign” means, with present intent to authenticate or adopt a document: 1. To execute or adopt a tangible symbol; or 2. To attach to or logically associate with the document an electronic sound, symbol or process.
Nev. Rev. Stat. § 107A.190
“State” defined
“State” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States.
Nev. Rev. Stat. § 107A.200
“Submit for recording” defined
“Submit for recording” means to submit a document complying with applicable legal standards, with required fees and taxes, to the appropriate governmental office pursuant to NRS 111.310 to 111.3655, inclusive.
Nev. Rev. Stat. § 107A.210
“Tenant” defined
“Tenant” means a person that has an obligation to pay sums for the right to possess or occupy, or for possessing or occupying, the real property of another person.
Nev. Rev. Stat. § 107A.220
Manner of giving notification
1. Except as otherwise provided in subsections 3 and 4, a person gives a notification or a copy of a notification under this chapter: (a) By depositing it with the United States Postal Service or with a commercially reasonable delivery service, properly addressed to the intended recipient’s address as specified in subs…
Nev. Rev. Stat. § 107A.230
Security instrument creates assignment of rents; assignment of rents creates security interest
1. An enforceable security instrument creates an assignment of rents arising from the real property described in the security instrument, unless the security instrument provides otherwise. 2. An assignment of rents creates a presently effective security interest in all accrued and unaccrued rents arising from the real…
Nev. Rev. Stat. § 107A.240
Recordation; perfection of security interest in rents; priority of conflicting interests in rents
1. A document creating an assignment of rents may be submitted for recording in the office of the recorder of the county in which the real property is located in the same manner as any other document evidencing a conveyance of an interest in real property. 2. Upon recording, the security interest in rents created by an…
Nev. Rev. Stat. § 107A.250
Enforcement of security interest in rents
1. An assignee may enforce an assignment of rents using one or more of the methods specified in NRS 107A.260, 107A.270 and 107A.280 or any other method sufficient to enforce the assignment under law of this State other than this chapter. 2. From the date of enforcement, the assignee or, in the case of enforcement by ap…
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