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'Foreclosure Sale'
Special servicers and lenders who have loans secured by real property in Nevada should be aware of a case that is on appeal in that state. It involves an Eighth Judicial District ruling issued in August 2012, in which the court found that a private sale of property through receivership must include notices required in a non-judicial foreclosure. A lack of such notices precluded a recovery against the guarantor. The court also found that, because a receivership sale is a “foreclosure sale,” the trustee was precluded from recovering a deficiency.
Non-Judicial Foreclosure
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