Nevada HOA Assessments, Liens & Foreclosure (NRS 116)

NRS 116.3116(3) makes part of the assessment lien prior to a first security interest, to the extent of assessments 'based on the periodic budget adopted by the association ... which would have become due in the absence of acceleration during the 9 months immediately preceding the date on which the notice of default and election to sell is recorded,' plus certain nuisance-abatement charges. This 9-month 'super-priority' piece can wipe out a mortgage if unpaid. The association may foreclose nonjudicially (NRS 116.31162-116.31168): it records and mails a notice of delinquent assessment, then a notice of default and election to sell, then a notice of sale to the owner and junior lienholders before a public sale. No court action is required.

No statutory penalty on the owner beyond the debt: the unpaid assessments, interest, reasonable collection and foreclosure costs, and attorney fees, enforced through a lien whose 9-month super-priority portion can be foreclosed nonjudicially ahead of the first mortgage.