Nevada Revised Statutes 107.055 – Amount must be stated in instrument
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If a party to a deed of trust, executed after July 1, 1971, desires to charge an assumption fee for a change in parties, the amount of such charge must be clearly set forth in the deed of trust at the time of execution. Without limiting or prohibiting any other method by which the amount of the charge may be clearly set forth in the deed of trust, the charge may be set forth as:
Terms Used In Nevada Revised Statutes 107.055
- Deed: The legal instrument used to transfer title in real property from one person to another.
1. A fixed sum;
2. A percentage of the amount secured by the deed of trust and remaining unpaid at the time of assumption; or
3. The lesser of, the greater of or some combination of the amounts determined by subsections 1 and 2.