Nevada § 107.055 - Amount must be stated in instrument
Full text of Nevada Nevada Revised Statutes § 107.055 — Amount must be stated in instrument, with citation guidance and answers to common questions.
§ 107.055. Amount must be stated in instrument
If a party to a deed of trust, executed after July 1, 1971, desires to charge an assumption
fee for a change in parties, the amount of such charge must be clearly set forth in
the deed of trust at the time of execution. Without limiting or prohibiting any other method by which the amount of the charge
may be clearly set forth in the deed of trust, the charge may be set forth as: 1. A fixed sum; 2. A percentage of the amount secured by the deed of trust and remaining unpaid at
the time of assumption; or 3. The lesser of, the greater of or some combination of the amounts determined by
subsections 1 and 2.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 107.055
What does Nevada Revised Statutes § 107.055 cover?
Section 107.055 ("Amount must be stated in instrument") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 107.055?
A common citation format is "Nevada Revised Statutes § 107.055" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 107.055 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.