NRS
40.459 Limitations on amount of money judgment.
1. After the
hearing, the court shall award a money judgment against the debtor, guarantor
or surety who is personally liable for the debt.
2. Except as otherwise provided in
subsection 3, the court shall not render judgment for more than:
(a) The amount by which the amount of the
indebtedness which was secured exceeds the fair market value of the property
sold at the time of the sale, with interest from the date of the sale; or
(b) The amount which is the difference between
the amount for which the property was actually sold and the amount of the
indebtedness which was secured, with interest from the date of sale,
Ê whichever is
the lesser amount.
3. If the debt was secured by property
upon which the debtor, guarantor or surety maintains his or her principal
residence, there is not more than one residential structure and not more than
four families reside, the court shall not render judgment for more than:
(a) The amount by which the amount of the indebtedness
which was secured exceeds the fair market value of the property sold at the
time of the sale, with interest from the date of the sale;
(b) The amount which is the difference between
the amount for which the property was actually sold and the amount of the
indebtedness which was secured, with interest from the date of sale; or
(c) If the person seeking the judgment acquired
the right to obtain the judgment from a person who previously held that right,
the amount by which the amount of the consideration paid for that right exceeds
the fair market value of the property sold at the time of sale or the amount
for which the property was actually sold, whichever is greater, with interest
from the date of sale and reasonable costs,
Ê whichever is
the lesser amount.
4. For the purposes of this section, the
“amount of the indebtedness” does not include any amount received by, or
payable to, the judgment creditor or beneficiary of the deed of trust pursuant
to an insurance policy to compensate the judgment creditor or beneficiary for
any losses incurred with respect to the property or the default on the debt.
(Added to NRS by 1969,
573; A 1985,
371; 1987,
1644; 1989,
1770; 1993,
152; 2011,
1743; 2015,
581)
Notes of Decisions
Branch Banking and Trust Co. v. D.M.S.I., LLC (2017)
ca9 · cites it 4×
“At the time this action was brought, Nev. Rev. Stat. § 40.459 (l)(c) (repealed May 25, 2015) (“Subsection (l)(e)”) provided that the court in a deficiency action shall not render judgment for more than: .”
Branch Banking & Trust Co. v. Pahrump 194, LLC (2014)
nvd · cites it 12×
“As such, summary judgment as to liability is granted in favor of plaintiff, and defendants will be liable for damages in an *997 amount to be computed under NRS 40.459(1). (B) Applicability of NRS WA59(l)(c) The majority of the arguments in the cross-motions for summary judgment…”
Branch Banking & Trust Co. v. Pebble Creek Plaza, LLC (2014)
nvd · cites it 35×
“459(l)(c); (4) Branch Banking did not carry its burden of establishing that there is any “indebtedness” owed pursuant to NRS 40.459; and (5) Branch Banking is bound by its admission that the fair market value of the Property was $1,900,000.”
Thomas v. Valley Bank of Nev. (1981)
nev · cites it 3×
“, do not apply to the obligations of guarantors. The language of the statutes in question confines their applicability to debts “secured by a mortgage or deed of trust,” NRS 40.”
Keever v. Nicholas Beers Co. (1980)
nev · cites it 2×
“NRS 40.459 limits the amount of a deficiency judgment which may be rendered after a judicial sale to the difference between the fair market value of the security at the time of the sale and the amount of the debt.”
Walters v. Eighth Judicial District Court Ex Rel. County of Clark (2011)
nev
“The district court did not act arbitrarily or capriciously in entering summary judgment in favor of CBN on its breach of guaranty counterclaim According to CBN, it clearly asserted a claim that comported with NRS 40.459 by calculating the amount Walters owed as a result of the…”
Tahoe Highlander v. Westside Federal Savings & Loan Ass'n (1979)
nev · cites it 2×
“Accordingly, the district court, as required by NRS 40.459, awarded respondents $157,909 (the difference between the indebtedness and the fair market value of the property), plus *11 interest and attorney’s fees.”
— Nev. Rev. Stat. § 40.459(1) — 7 cases
Branch Banking & Trust Co. v. Pahrump 194, LLC (2014)
nvd
“As such, summary judgment as to liability is granted in favor of plaintiff, and defendants will be liable for damages in an *997 amount to be computed under NRS 40.459(1). (B) Applicability of NRS WA59(l)(c) The majority of the arguments in the cross-motions for summary judgment…”
— Nev. Rev. Stat. § 40.459(1)(C) — 1 case
— Nev. Rev. Stat. § 40.459(1)(a) — 2 cases
— Nev. Rev. Stat. § 40.459(1)(c) — 14 cases
— Nev. Rev. Stat. § 40.459(1)(e) — 1 case
— Nev. Rev. Stat. § 40.459(2) — 6 cases
Branch Banking & Trust Co. v. Pahrump 194, LLC (2014)
nvd
“As such, summary judgment as to liability is granted in favor of plaintiff, and defendants will be liable for damages in an *997 amount to be computed under NRS 40.459(1). (B) Applicability of NRS WA59(l)(c) The majority of the arguments in the cross-motions for summary judgment…”
Branch Banking & Trust Co. v. Pebble Creek Plaza, LLC (2014)
nvd
“459(l)(c); (4) Branch Banking did not carry its burden of establishing that there is any “indebtedness” owed pursuant to NRS 40.459; and (5) Branch Banking is bound by its admission that the fair market value of the Property was $1,900,000.”
— Nev. Rev. Stat. § 40.459(3) — 2 cases
— Nev. Rev. Stat. § 40.459(3)(c) — 2 cases
— Nev. Rev. Stat. § 40.459(l) — 2 cases
— Nev. Rev. Stat. § 40.459(l)(a) — 3 cases
Branch Banking & Trust Co. v. Pahrump 194, LLC (2014)
nvd
“As such, summary judgment as to liability is granted in favor of plaintiff, and defendants will be liable for damages in an *997 amount to be computed under NRS 40.459(1). (B) Applicability of NRS WA59(l)(c) The majority of the arguments in the cross-motions for summary judgment…”
— Nev. Rev. Stat. § 40.459(l)(c) — 8 cases
Branch Banking & Trust Co. v. Pebble Creek Plaza, LLC (2014)
nvd
“459(l)(c); (4) Branch Banking did not carry its burden of establishing that there is any “indebtedness” owed pursuant to NRS 40.459; and (5) Branch Banking is bound by its admission that the fair market value of the Property was $1,900,000.”
Branch Banking & Trust Co. v. Pahrump 194, LLC (2014)
nvd
“As such, summary judgment as to liability is granted in favor of plaintiff, and defendants will be liable for damages in an *997 amount to be computed under NRS 40.459(1). (B) Applicability of NRS WA59(l)(c) The majority of the arguments in the cross-motions for summary judgment…”
— Nev. Rev. Stat. § 40.459(l)(e) — 2 cases
Branch Banking & Trust Co. v. Pebble Creek Plaza, LLC (2014)
nvd
“459(l)(c); (4) Branch Banking did not carry its burden of establishing that there is any “indebtedness” owed pursuant to NRS 40.459; and (5) Branch Banking is bound by its admission that the fair market value of the Property was $1,900,000.”
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