Nev. Rev. Stat. » NRS: CHAPTER 40 - ACTIONS AND PROCEEDINGS IN PARTICULAR CASES CONCERNING PROPERTY
Nevada Revised Statutes

Nev. Rev. Stat. § 40.475 (2026)

Remedy against mortgagor or grantor; assignment of creditor’s rights to guarantor, surety or obligor

✓ current as of July 2026
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NRS 40.475  Remedy against mortgagor or grantor; assignment of creditor’s rights to guarantor, surety or obligor.  Upon full satisfaction by a guarantor, surety or other obligor, other than the mortgagor or grantor of a deed of trust, of the indebtedness secured by a mortgage or lien upon real property, the paying guarantor, surety or other obligor is entitled to enforce every remedy which the creditor then has against the mortgagor or grantor of the mortgage or lien upon real property, and is entitled to an assignment from the creditor of all of the rights which the creditor then has by way of security for the performance of the indebtedness.

      (Added to NRS by 1987, 1643)

     

Notes of Decisions
Cited in 3 cases, 2013–2016 · leading case: Bank of Nevada Vs. Petersen, 2016 NV 64 (Nev. 2016).
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Bank of Nevada Vs. Petersen, 2016 NV 64 (Nev. 2016). · cites it 2× “3d at 1268 (stating concern that obligees should not receive excess recovery and that guarantors have notice of the actual amount of the deficiency); but see NRS 40.475 (addressing the paying guarantor's subrogation rights).”
Bank of Nevada Vs. Petersen, 2016 NV 64 (Nev. 2016). “3d at 1268 (stating concern that obligees should not receive excess recovery and that guarantors have notice of the actual amount of the deficiency); but see NRS 40.475 (addressing the paying guarantor's subrogation rights).”
Lavi v. Dist. Ct. (Branch Banking) (Nev. 2013). “See NRS 40.475. Here, however, because the bank sued Lavi on the guaranty and thereafter foreclosed, without first reducing its claim against Lavi to judgment, the majority exonerates Lavi from his obligations on the guaranty.”
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