Written Statement of Default
(Residential Foreclosure) (Nonowner-Occupied Property) (NV)

Summary

This written statement of default may be used in a nonjudicial foreclosure of nonowner-occupied residential property in Nevada to give the property owner the statutorily required pre-foreclosure notice of default. This template includes practical guidance and drafting notes. A deed of trust is the preferred security instrument in Nevada and most residential foreclosures in Nevada are completed pursuant to a power of sale in a deed of trust. Prior to beginning the foreclosure process, the beneficiary, its successor in interest, the servicer of the obligation, trustee, or attorney representing one of those entities must send the borrower or obligor a written statement of the amount necessary to make good the deficiency; the amount of default; the principal amount of the debt; amount of accrued interest and late charges; a good faith estimate of all fees imposed in connection with the exercise of the power of sale; and contact information for obtaining currently amounts. Nev. Rev. Stat. Ann. § 107.0805(1)(b) (formerly 107.080(2)(c)). This statute does not provide when or how the information should be sent. A notarized affidavit of authority affirming under penalty of perjury that the notice has been sent must later be attached to the notice of default (NOD). For a template see Affidavit of Authority to Exercise the Power of Sale (Residential Foreclosure) (NV). If the property is owner-occupied, Nevada Homeowners' Bill of Rights (NHBR) imposes additional notice requirements under most circumstances and, when applicable, the lender typically combines the Nev. Rev. Stat. Ann. § 107.0805(1)(b) and the NHBR notice in a single notice. Thus, this template is intended for use when the property is not owner occupied and the only notice required is the Nev. Rev. Stat. Ann. § 107.0805(1)(b) notice.If the property is owner-occupied, use the template Written Statement of Default (Residential Foreclosure) (Owner-Occupied Property) (NV). For additional guidance see Residential Foreclosure (NV) and Foreclosure Resource Kit (NV).