Nevada's "Homeowner's Bill of Rights" was pitched as a way to help underwater borrowers short sell their homes to family, friends or investors, then rent or buy them back. But now, some are questioning whether the law really gives homeowners the upper hand on banks, which frown upon such prearranged deals. Senate Bill 321, which took effect Oct. 1, was intended to ease the rules on "arm's length" agreements, which many financial institutions have required in recent years to ensure that owners retain no interest in their homes once they sell. But real estate lawyers disagree about how to interpret ...
