Nevada Revised Statutes 147.150 – Claims must be filed and rejected; exception for lien or mortgage
Current as of: 2023 | Check for updates
|
Other versions
No holder of a claim against an estate may maintain an action thereon unless the claim is first filed with the clerk and the claim is rejected in whole or in part, except in the following case: An action may be brought by the holder of a lien or mortgage to enforce the lien or mortgage against the property of the estate subject thereto if all recourse against any other property of the estate is expressly waived in the complaint.
Terms Used In Nevada Revised Statutes 147.150
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC