645.8775 - Duty of owner to confirm or deny claim; effect of confirming claim; effect of denying claim or failing to respond; recording of claim by broker.

NEVADA STATUTES AND CODES

645.8775 - Duty of owner to confirm or deny claim; effect of confirming claim; effect of denying claim or failing to respond; recording of claim by broker.

645.8775 Duty of owner to confirm or deny claim; effect of confirming claim; effect of denying claim or failing to respond; recording of claim by broker.

1. If an owner is served with a notice of a claim pursuant to NRS 645.8765, the owner shall, within 5 days after service of the notice but not later than 7 days before the disposition of the commercial real estate:

(a) Confirm or deny the claim set forth in the notice; and

(b) Notify, in writing, the real estate broker who provided the notice to the owner.

2. If the owner confirms the claim and notifies the real estate broker of that fact pursuant to subsection 1, the owner may instruct the escrow agent for the commercial real estate to pay to the real estate broker the amount claimed by the real estate broker in the notice of the claim.

3. If the owner fails to notify the real estate broker within the period specified in subsection 1 or notifies the real estate broker that the owner denies the claim, the real estate broker may record the notice of the claim in the office of the county recorder where the commercial real estate or any portion of the commercial real estate is located.

(Added to NRS by 1999, 1176)