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NRS 116.087

“Security interest” defined

Known as the Uniform Common-Interest Ownership Act

The act spans §§ 116–116 (235 sections).

(Added to NRS by 1991, 538)—(Substituted in revision for NRS 116.110383)

“Security interest” means an interest in real estate or personal property, created by contract or conveyance, which secures payment or performance of an obligation. The term includes a lien created by a mortgage, deed of trust, trust deed, security deed, contract for deed, land sales contract, lease intended as security, assignment of lease or rents intended as security, pledge of an ownership interest in an association and any other consensual lien or contract for retention of title intended as security for an obligation.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.