NRS315.99818. “Mortgage” defined.

Latest version.

“Mortgage” means a mortgage deed, deed of trust or other instrument which constitutes a lien on real property in fee simple or on a leasehold under a lease whose remaining term, at the time such mortgage is acquired, does not expire for at least that number of years beyond the maturity date of the obligation secured by such mortgage as is established by the State Authority as necessary to protect its interest as mortgagee.

(Added to NRS by 2005, 211)

                    
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