Nevada § 40.4638 - Circumstances under which action to enforce obligation is prohibited
Full text of Nevada Nevada Revised Statutes § 40.4638 — Circumstances under which action to enforce obligation is prohibited, with citation guidance and answers to common questions.
§ 40.4638. Circumstances under which action to enforce obligation is prohibited
1. A person to whom an obligation secured by a junior mortgage or lien on real property
is owed may not bring any action to enforce that obligation after a foreclosure sale
of the real property which secured that obligation or a sale in lieu of a foreclosure
sale if: (a) The person is a financial institution; (b) The real property which secured the obligation is a single-family dwelling and
the debtor or grantor was the owner of the real property at the time of the foreclosure
sale or sale in lieu of a foreclosure sale; (c) The debtor or grantor used the amount of the obligation to purchase the real property; (d) The debtor or grantor continuously occupied the real property as the debtor's
or grantor's principal residence after securing the obligation; and (e) The debtor or grantor did not refinance the obligation after securing it. 2. As used in this section, “financial institution” has the meaning ascribed to it
in NRS 363A.050 .
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 40.4638
What does Nevada Revised Statutes § 40.4638 cover?
Section 40.4638 ("Circumstances under which action to enforce obligation is prohibited") 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 § 40.4638?
A common citation format is "Nevada Revised Statutes § 40.4638" (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 § 40.4638 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.