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What must the 90 day notice say?
The new federal law applies to both single family homes and large apartment complexes. It also
applies to weekly as well as monthly rentals. It does not specify what the notice should say.
Effective 10/1/09, NRS 40.255 creates additional notice requirements for “residential (4 units or
less) foreclosures” of dwellings rented by the month or longer. The 90 day period should be
contained in a notice of change of ownership which must include a statement:
(a) Giving the contact information for the person to whom rent should be paid;
(b) Notifying you that the rental agreement with the previous owner or landlord
continues in effect through the notice period, and
(c) Notifying you that failure to pay rent or comply with any other term of the
agreement or applicable law constitutes a breach of the rental agreement and may result
in eviction proceedings.
For larger complexes and dwellings of all sizes rented for periods shorter than 30 days no
specific form of notice is required. For both “residential foreclosures” and large complexes the
notice must allow you the time required to move under the new federal law. If the new federal
law is not extended by Congress, state law notice periods will govern.
What if I do not want to stay 90 days or for the remainder of my lease?
Effective 10/1/09, NRS 40.255 following “residential (4 units or less) foreclosures” of dwellings
rented by the month or longer, tenants may vacate at any time during the notice period without
penalty. No record of eviction may be entered if you vacate within the notice period.
In any case, you may be able to negotiate to see what the new owner might offer if you agree to
move early. Many banks which foreclose may offer you a “cash for keys” option.
What if I wish to continue renting the dwelling?
You may be able to negotiate to see what the new owner might offer you a new lease or agree
that you can remain longer than 90 days.
When should I first be informed that my dwelling is in foreclosure?
For most tenants the 90 day notice should come as no surprise. Starting 10/1/09, NRS 107.087
requires for “residential (4 units or less) foreclosures” that at the same time the lender serves the
owner (your landlord) with a “notice of default and election to sell,” that you get written notice
which allows you to break the lease and move at any time. This notice should come at least 90
days prior to the foreclosure sale, but no less than 15 days prior. That notice must also describe
your rights and responsibilities under Nevada eviction procedures. The notice must be both
posted on the property and mailed to you.
The separate notice must be similar to the “Notice to Tenants of the Property” found at the end of
this brief, which describes a tenant's rights in the event of a mortgage foreclosure.