Nevada § 104.9619 - Transfer of record or legal title

§ 104.9619. Transfer of record or legal title

1. In this section, “ transfer statement ” means a record signed by a secured party stating: (a) That the debtor has defaulted in connection with an obligation secured by specified

collateral; (b) That the secured party has exercised its postdefault remedies with respect to

the collateral; (c) That, by reason of the exercise, a transferee has acquired the rights of the debtor

in the collateral; and (d) The name and mailing address of the secured party, debtor and transferee. 2. A transfer statement entitles the transferee to the transfer of record of all rights

of the debtor in the collateral specified in the statement in any official filing,

recording, registration or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to

the official or office responsible for maintaining the system, the official or office

shall: (a) Accept the transfer statement; (b) Promptly amend its records to reflect the transfer; and (c) If applicable, issue a new appropriate certificate of title in the name of the

transferee. 3. A transfer of the record or legal title to collateral to a secured party under

subsection 2 or otherwise is not of itself a disposition of collateral under this

article and does not of itself relieve the secured party of its duties under this

article.