With the financial crisis still in mind and the potential “wall of maturities” perpetually on the horizon, the Nevada Legislature has enacted two bills addressing commercial real property foreclosure and commercial real property receiverships. Turning first to commercial foreclosures, the Nevada Legislature previously enacted legislation requiring foreclosing lenders to provide an affidavit of authority indicating that the beneficiary under a Deed of Trust – or the foreclosing trustee – was in actual or constructive possession of the Note secured by the deed of Trust and that the beneficiary or foreclosing trustee was authorized to enforce the loan.
