1.  An owner of property may redeem a tax lien assigned pursuant to the provisions of NRS 361.7303 to 361.733, inclusive, without a prepayment penalty at any time after the assignment by paying the amounts owed to the assignee under the agreement entered into pursuant to NRS 361.7311.

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2.  If an owner who redeems the tax lien has been served with a summons pursuant to NRS 361.670, the owner must pay the costs incurred by the assignee to commence the action.

3.  Within 20 business days after the redemption of the tax lien, the assignee shall issue a release of the lien to the owner.

4.  A release issued pursuant to subsection 3 must include:

(a) The legal description and parcel number of the property which is the subject of the tax lien;

(b) The year or years for which the taxes related to the lien were assessed on the parcel;

(c) The recording information for the documents recorded pursuant to subsection 3 of NRS 361.7311; and

(d) The date the tax lien is redeemed.

5.  The assignee shall:

(a) Cause the release to be recorded in the office of the county recorder of the county in which the property is located; and

(b) Cause a copy of the release to be sent to the county treasurer of that county.