Nev. Rev. Stat. » NRS: CHAPTER 104 - UNIFORM COMMERCIAL CODE—ORIGINAL ARTICLES

Nev. Rev. Stat. § 104.9610

Disposition of collateral after default

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NRS 104.9610  Disposition of collateral after default.

      1.  After default, a secured party may sell, lease, license or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing.

      2.  Every aspect of a disposition of collateral, including the method, manner, time, place and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms.

      3.  A secured party may purchase collateral:

      (a) At a public sale; or

      (b) At a private sale only if the collateral is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations.

      4.  A contract for sale, lease, license or other disposition includes the warranties relating to title, possession, quiet enjoyment and the like which by operation of law accompany a voluntary disposition of property of the kind subject to the contract.

      5.  A secured party may disclaim or modify warranties under subsection 4:

      (a) In a manner that would be effective to disclaim or modify the warranties in a voluntary disposition of property of the kind subject to the contract of disposition; or

      (b) By communicating to the purchaser a record evidencing the contract for disposition and including an express disclaimer or modification of the warranties.

      6.  A record is sufficient to disclaim warranties under subsection 5 if it indicates “There is no warranty relating to title, possession, quiet enjoyment or the like in this disposition” or uses words of similar import.

      (Added to NRS by 1999, 349)

     

Notes of Decisions
Cited in 4 cases (1 in the last 5 years), 2014–2024 · leading case: NATIONSTAR MORTG., LLC VS. SATICOY BAY LLC SERIES 2227 SHADOW CANYON
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NATIONSTAR MORTG., LLC VS. SATICOY BAY LLC SERIES 2227 SHADOW CANYON (2017) nev · cites it 4× “See NRS 104.9610(1)-(2); U.C.C. § 9-610(a)-(b); see also NRS 104.”
NATIONSTAR MORTG., LLC VS. SATICOY BAY LLC SERIES 2227 SHADOW CANYON (2017) nev · cites it 2× “See NRS 104.9610(1)-(2); U.C.C. § 9-610(a)-(b); see also NRS 104.”
Mitchell v. Auto Mart LLC (2024) nvd · cites it 2× “9610(2), 13 requiring that a disposition after a default be commercially reasonable; NRS 104.9611(2), 14 requiring a secured party to send the debtor a notification of disposition if the secured party 15 disposes of the collateral under NRS 104.”
Harley-Davidson Credit v. Galvin, et al. (2014) nhd · cites it 2× “, NRS §§ 104.9610 and 104.9627, adopted the language of those sections, they did so prior to the time of the sale.”
— Nev. Rev. Stat. § 104.9610(1) — 2 cases
NATIONSTAR MORTG., LLC VS. SATICOY BAY LLC SERIES 2227 SHADOW CANYON (2017) nev “See NRS 104.9610(1)-(2); U.C.C. § 9-610(a)-(b); see also NRS 104.”
NATIONSTAR MORTG., LLC VS. SATICOY BAY LLC SERIES 2227 SHADOW CANYON (2017) nev “See NRS 104.9610(1)-(2); U.C.C. § 9-610(a)-(b); see also NRS 104.”
— Nev. Rev. Stat. § 104.9610(2) — 1 case
Mitchell v. Auto Mart LLC (2024) nvd “9610(2), 13 requiring that a disposition after a default be commercially reasonable; NRS 104.9611(2), 14 requiring a secured party to send the debtor a notification of disposition if the secured party 15 disposes of the collateral under NRS 104.”
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