The Deed of Trust
A
deed of trust is an instrument that "secure[s] the performance of an
obligation or the payment of any debt." NRS 107.020. The Nevada Supreme
Court has previously held that a deed of trust "constitutes a conveyance
of land as defined by NRS 111.010."[1] Ray
v. Hawkins, 76 Nev. 164, 166, 350 P.2d 998, 999 (1960). The statute of
frauds governs when a conveyance creates or assigns an interest in land: No
estate or interest in lands, . . . nor any trust or power over or concerning
lands, or in any manner relating thereto, shall be created, granted, assigned,
surrendered or declared . . . , unless ... by deed or conveyance, in writing,
subscribed by the party creating, granting, assigning, surrendering or
declaring the same, or by the party's lawful agent thereunto authorized in
writing. NRS 111.205(1) (emphases added). Thus, to prove that WAMU properly
assigned its interest in land via the deed of trust to Wells Fargo, Wells Fargo
needs to provide a duly signed writing from WAMU demonstrating that transfer of
interest (and each subsequent transfer). If no such assignment(s), duly
executed, is/are provided at the mediation, Wells Fargo lacks would
lack standing to pursue foreclosure proceedings against ________.
