How are foreclosures handled in Nevada?
Trust deed and mortgage foreclosures are conducted in Nevada much like they are in the other states (California, Oregon, Arizona, New Mexico) above. That is to say that foreclosure on trust deeds can be privately by a trustee’s sale or by judicial order through a Court, in which the Sheriff or Constable then conducts the sale. This is where comparisons with the other states ends, though. Nevada law allows for deficiency claims on almost all debts (most of the other states have limitations), that is to say in most cases the law allows the creditor to pursue any shortfall in the sale proceeds to pay the borrower’s debt. See “Deficiency Judgment” below.
