What Do I Need to File if a Buyer on a Contract for Deed Defaults?

Full Question:

Last Year I sold a parcel I owned in Elko County to another party using a Contract For Deed. The buyers have defaulted and I have sent 2 Default Notices and 2 Forfeiture Notices to them by registered mail. I am now taking the property back, but wanted to know if I need to file any legal forms with the County Recorder. I already called and had the Treasurer's Office change the tax billing address back to my own.
08/03/2010   |   Category: Contract for Deed   |   State: Nevada   |   #22819

Answer:

A notice of cancellation of the contract may be filed. The answer will depend on whether anything was filed with the recorder already regarding the transaction. Typically, the deed isn't transferred until the buyer makes final payment, so there wouldn't be a need to record a new deed in the case of buyer default since the buyer wouldn't have the deed in their name yet. In some cases, a contract for deed may be filed. If you or the buyer filed the contract for deed with the land recorder's office, then a notice of cancellation of the contract should also be filed.

If you are unsure of what is on record, we suggest contacting the land recorder's office where the property is located to inquire about filings on record. Often, the clerk of courts may be able to direct you to a searchable online records database.