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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54026
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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We are closing on a new home. We had a charge-off on a

Customer Question

We are closing on a new home. We had a charge-off on a second mortgage over six years ago. New mortgage come has agreed to give us FHA loan. Can the bank put a lien on our new property even though it was a chargeoff. Title company is allowing us to sign docs and close.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Las Vegas, Nevada
JA: Has any paperwork been filed?
Customer: with the Lenders, yes
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  Richard replied 1 month ago.

Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

Expert:  Richard replied 1 month ago.

No, the lender cannot put a lien on your new property. Pursuant to Nev. Rev. Stat. Ann. § 11.010 et. seq., the statute of limitations for a promissory loan is 3 years. Since it's been over 6 years, you have an absolute defense to any claim by the lender and if the lender is past the statute of limitations, the lender would not get a judgment against you and thus would not be able to place a lien on your property.

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