40.459 - Limitations on amount of money judgment. - Nevada Statutes

40.459  Limitations on amount of money judgment.  After the hearing, the court shall award a money judgment against the debtor, guarantor or surety who is personally liable for the debt. The court shall not render judgment for more than:

      1.  The amount by which the amount of the indebtedness which was secured exceeds the fair market value of the property sold at the time of the sale, with interest from the date of the sale; or

      2.  The amount which is the difference between the amount for which the property was actually sold and the amount of the indebtedness which was secured, with interest from the date of sale,

Ê whichever is the lesser amount.

      (Added to NRS by 1969, 573; A 1985, 371; 1987, 1644; 1989, 1770; 1993, 152)