Nevada Revised Statutes 106.370 – Priority of lien
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1. The priority of a lien for future advances dates from the time that the instrument is recorded in the office of the county recorder of the county in which the property is located, whether or not the:
Terms Used In Nevada Revised Statutes 106.370
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Lien: A claim against real or personal property in satisfaction of a debt.
(a) Future advances are obligatory or at the option of the lender; or
(b) Lender has notice of an intervening lien.
2. If an amendment to an instrument is recorded which increases the maximum amount of indebtedness secured by the instrument, the priority of any lien for future advances of principal thereafter which exceed the maximum amount of principal of the original indebtedness dates from the time the amendment is recorded in the office of the county recorder of the county in which the property is located.