Maria purchased a home in Las Vegas and financed it with a loan secured by a deed of trust. She later defaulted on her loan payments. The lender wants to foreclose. Which type of foreclosure process does Nevada law primarily provide for in this situation?
Correct Answer
C) Non-judicial foreclosure, allowing the trustee to sell the property through a trustee's sale without court involvement
Nevada law under NRS Chapter 107 primarily provides for non-judicial foreclosure (also called a trustee's sale) when a deed of trust is used as the security instrument. Because the trustee holds bare legal title, the trustee can conduct a public auction sale without filing a lawsuit or obtaining a court order, making the process faster and less expensive than judicial foreclosure.
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