1. 1. “Real estate” means:

   1. (a) Real property;
   2. (b) Interests in real property, including, without limitation, leaseholds, minerals and oil and gas that have not been separated from the underlying fee interest;
   3. (c) Improvements and fixtures located on or in real property; and
   4. (d) The seller’s equity in a contract providing for a deed of real estate.

2. 2. As to a mortgage on real estate, the term includes the leasehold estate only if it has an unexpired term, including, without limitation, renewal options exercisable at the option of the lessee, extending beyond the scheduled maturity date of the obligation that is secured by a mortgage on the leasehold estate for the greater of:

   1. (a) A period equal to at least 20 percent of the original term of the obligation; or
   2. (b) Ten years.

(Added to NRS by 2015, 3424)