Redemption and Deficiency Judgments in Nevada

There is no right of redemption after a trustee's sale: the sale vests title in the buyer without equity or right of redemption. After a court-ordered sheriff's sale (which is conducted like an execution sale), the judgment debtor or a redemptioner may redeem within 1 year after the sale by paying the purchase price plus 1% per month, and any taxes, assessments, or prior-lien payments the buyer made, with interest.

Allowed in many cases, with limits. The lender must apply to the court within 6 months after the foreclosure sale, and a hearing is required. The judgment cannot exceed the lesser of (a) the debt minus the property's fair market value at the time of sale, or (b) the debt minus the sale price (with an additional limit when the right to the judgment was bought from the original holder and the property was the debtor's principal residence). A financial institution may not get a deficiency judgment on a single-family home if the owner used the loan to buy the home, lived in it continuously as a principal residence, and never refinanced.