361.7318 - Certificate of purchase: Issuance; rights of holder; contents; transfer; security interest. - Nevada Statutes

361.7318  Certificate of purchase: Issuance; rights of holder; contents; transfer; security interest.

      1.  The county treasurer shall issue a certificate of purchase to each purchaser of a tax lien.

      2.  The holder of a certificate of purchase is entitled to receive:

      (a) The amount of the taxes which are delinquent for the year those taxes are assessed against the parcel of real property which is the subject of the tax lien and any penalties, interest and costs imposed pursuant to the provisions of this chapter; and

      (b) Interest on the amount described in paragraph (a) which accrues at a rate established by the board of county commissioners. The interest must be calculated annually from the date on which the certificate of purchase is issued. The rate of interest established by the board may not be less than 10 percent per annum or more than 20 percent per annum.

      3.  Each certificate of purchase must include:

      (a) A description of the parcel of real property which is the subject of the tax lien;

      (b) The years the taxes which are delinquent were assessed on the parcel;

      (c) The amount the county treasurer received for the tax lien;

      (d) The amount of the delinquent taxes owed on the parcel and any penalties, interest and costs imposed pursuant to the provisions of this chapter; and

      (e) A statement that the amount indicated on the certificate pursuant to paragraph (d) bears interest at the rate established by the board of county commissioners, from the date on which the certificate of purchase is issued.

      4.  The holder of a certificate of purchase may transfer the certificate to another person by signing the certificate before a notary public. A certificate of purchase may not be transferred to a government, governmental agency or political subdivision of a government. The transferee must submit the certificate to the county treasurer for entry of the transfer in the record of sales of tax liens maintained by the county treasurer pursuant to NRS 361.7322.

      5.  Notwithstanding the provisions of NRS 104.9109, a security interest in a certificate of purchase may be created and perfected in the manner provided for general intangibles set forth in NRS 104.9101 to 104.9709, inclusive.

      (Added to NRS by 2005, 510)