Nevada § 489.562 - Application for new certificate of title under certain circumstances; filing, form and amount of bond; recovery on bond; right of action does not exist

§ 489.562. Application for new certificate of title under certain circumstances; filing, form and amount of bond; recovery on bond; right of action does not exist

1. If an applicant who is seeking a certificate of title is unable to provide the

information required by the Division pursuant to NRS 489.561 and satisfy the Division that the applicant is entitled to a certificate of title

pursuant to that section, the applicant may obtain a new certificate of title from

the Division by: (a) Filing a bond with the Division that meets the requirements of subsection 3;

and (b) Allowing the Division to inspect the manufactured home, mobile home or commercial

coach for compliance with the safety standards and other requirements provided in

regulations adopted by the Administrator pursuant to NRS 489.251 . 2. Any person damaged by the issuance of a certificate of title pursuant to this section

has a right of action to recover on the bond for any breach of its conditions, except

the aggregate liability of the surety to all persons must not exceed the amount of

the bond. 3. The bond required pursuant to subsection 1 must be: (a) In a form prescribed by the Division; (b) Executed by the applicant as principal and by a corporation qualified under the

laws of this State as surety; (c) In an amount equal to one and one-half times the most recent assessed value assigned

by the relevant county assessor to the manufactured home, mobile home or commercial

coach; and (d) Conditioned to indemnify any: (1) Prior owner or lienholder of the manufactured home, mobile home or commercial

coach, and his or her successors in interest; (2) Subsequent purchaser of the manufactured home, mobile home or commercial coach,

and his or her successors in interest; or (3) Person acquiring a security interest in the manufactured home, mobile home or

commercial coach, and his or her successors in interest, against any expense, loss or damage because of the issuance of the certificate of

title or because of any defect in or undisclosed security interest in the applicant's

right or title to the manufactured home, mobile home or commercial coach or the applicant's

interest in the manufactured home, mobile home or commercial coach. 4. A right of action does not exist in favor of any person by reason of any action

or failure to act on the part of the Division or any officer or employee thereof in

carrying out the provisions of this section, or in giving or failing to give any information

concerning the legal ownership of a manufactured home, mobile home or commercial coach

or the existence of a certificate of title obtained pursuant to this section.