When can a certificate be issued to secured parties after contract performance as per NRS 489.571?

A certificate can be issued to secured parties upon successful contract performance according to NRS 489.571. This provision is designed to ensure that the parties involved have fulfilled their obligations under the contract before any certificates are granted. It establishes a clear link between the performance of the contract and the issuance of the certificate, thereby protecting the interests of the parties and ensuring that the secured parties have met the necessary requirements outlined in the agreement.

Successful contract performance indicates that the conditions set out in the contract have been satisfactorily met, which justifies the issuance of the certificate. This process helps maintain the integrity of contractual agreements within the context of manufactured housing transactions, ensuring that all parties have complied with their respective duties before any formal documentation is provided.

This approach does not propose the issuance at the time of signing, which would overlook the necessity of performance; nor does it depend on the selling of the property or court approval, both of which introduce unnecessary complications and delay in the process. Instead, it upholds a straightforward and efficient method of ensuring that contractual commitments are honored before proceeding to formal recognition of completion through the issuance of certificates.