USA Statutes : nevada
Title : Title 10 - PROPERTY RIGHTS AND TRANSACTIONS
Chapter : CHAPTER 113 - SALES OF REAL PROPERTY
1. NRS 113.130 does not require
a seller to disclose a defect in residential property of which he is not
aware.
2. A completed disclosure form does not constitute an express or
implied warranty regarding any condition of residential property.
3. Neither this chapter nor chapter 645 of NRS relieves a buyer or prospective buyer of the duty to exercise
reasonable care to protect himself.
(Added to NRS by 1995, 843; A 2001, 2896 )
1. If a seller or his agent fails to serve a completed disclosure
form in accordance with the requirements of NRS 113.130 , the purchaser may, at any time before the
conveyance of the property to the purchaser, rescind the agreement to
purchase the property without any penalties.
2. If, before the conveyance of the property to the purchaser, a
seller or his agent informs the purchaser or his agent, through the
disclosure form or another written notice, of a defect in the property of
which the cost of repair or replacement was not limited by provisions in
the agreement to purchase the property, the purchaser may:
(a) Rescind the agreement to purchase the property at any time
before the conveyance of the property to the purchaser; or
(b) Close escrow and accept the property with the defect as
revealed by the seller or his agent without further recourse.
3. Rescission of an agreement pursuant to subsection 2 is
effective only if made in writing, notarized and served not later than 4
working days after the date on which the purchaser is informed of the
defect:
(a) On the holder of any escrow opened for the conveyance; or
(b) If an escrow has not been opened for the conveyance, on the
seller or his agent.
4. Except as otherwise provided in subsection 5, if a seller
conveys residential property to a purchaser without complying with the
requirements of NRS 113.130 or
otherwise providing the purchaser or his agent with written notice of all
defects in the property of which the seller is aware, and there is a
defect in the property of which the seller was aware before the property
was conveyed to the purchaser and of which the cost of repair or
replacement was not limited by provisions in the agreement to purchase
the property, the purchaser is entitled to recover from the seller treble
the amount necessary to repair or replace the defective part of the
property, together with court costs and reasonable attorney’s fees. An
action to enforce the provisions of this subsection must be commenced not
later than 1 year after the purchaser discovers or reasonably should have
discovered the defect or 2 years after the conveyance of the property to
the purchaser, whichever occurs later.
5. A purchaser may not recover damages from a seller pursuant to
subsection 4 on the basis of an error or omission in the disclosure form
that was caused by the seller’s reliance upon information provided to the
seller by:
(a) An officer or employee of this state or any political
subdivision of this state in the ordinary course of his duties; or
(b) A contractor, engineer, land surveyor, certified inspector as
defined in NRS 645D.040 or pesticide applicator, who was authorized to practice that
profession in this state at the time the information was provided.
6. A purchaser of residential property may waive any of his rights
under this section. Any such waiver is effective only if it is made in a
written document that is signed by the purchaser and notarized.
(Added to NRS by 1995, 843; A 1997, 350, 1797)
Where lands,
or any estate or interest therein, have been or may hereafter be sold by
a sheriff, constable or other authorized officer, for taxes or under an
execution or order of sale, and the purchaser or his assigns may be
entitled to a deed, and the sheriff or other officer who made the sale
shall have died, or shall be absent from the state, or in any way
disqualified, it shall be lawful for the successor of the sheriff,
constable or other officer to make such deed to the purchaser, his
assignee or assignees, in the same manner and with the same effect as if
made by the officer making the sale.
[1:15:1862; B § 309; BH § 2660; C § 2732; RL § 1662; NCL § 2162]
Deeds, made as provided in NRS 113.010 , shall have the same force and effect as
evidence as if made by the officer making the sale.
[2:15:1862; B § 310; BH § 2661; C § 2733; RL § 1663; NCL § 2163]
RISKS OF VENDOR AND PURCHASER (UNIFORM ACT)
NRS 113.040 and 113.050
may be cited as the Uniform Vendor and Purchaser Risk Act.
(Added to NRS by 1977, 659)
Any contract made in this
state after July 1, 1977, for the purchase and sale of real property
shall be interpreted as including an agreement that the parties shall
have the following rights and duties, unless the contract expressly
provides otherwise:
1. If, when neither the legal title nor possession of the subject
matter of the contract has been transferred, all or a material part of
the subject matter is destroyed without fault of the purchaser or is
taken by eminent domain, the vendor cannot enforce the contract and the
purchaser is entitled to recover any portion of the price that he has
paid.
2. If, when either the legal title or the possession of the
subject matter of the contract has been transferred, all or any part of
the subject matter is destroyed without fault of the vendor or is taken
by eminent domain, the purchaser is not thereby relieved of a duty to pay
the price nor is he entitled to recover any portion of the price which he
has paid.
(Added to NRS by 1977, 659)
NRS 113.030 and 113.040
shall be interpreted and construed to effectuate its general purpose to
make uniform the law of those states which enact it.
(Added to NRS by 1977, 659)
REQUIRED DISCLOSURES
General Information
1. Any person who is proposing to sell a previously unsold home or
improved lot for which water or sewerage services will be provided by a
public utility that:
(a) Serves or plans to serve more than 25 customers; and
(b) Presently serves fewer than 2,000 customers,
Ê shall post in a conspicuous place on the property or at his sales
office if an improved lot is being sold, a notice which states the
current rates to be charged for such services or, if the public utility
is not presently serving customers, the projected rates to be charged.
The notice must also contain the name, address and telephone number of
the public utility and the Division of Consumer Complaint Resolution of
the Public Utilities Commission of Nevada.
2. Before the home or lot is sold, the seller shall give the
purchaser a copy of the notice described in subsection 1.
(Added to NRS by 1987, 476; A 1997, 1963)
1. Before the purchaser of a home or improved lot that is adjacent
to open range signs a sales agreement, the seller shall, by separate
written document, disclose to the purchaser information regarding grazing
on the open range. The written document must contain a statement with the
following language:
This property is adjacent to open range on which livestock are permitted
to graze or roam. Unless you construct a fence that will prevent
livestock from entering this property, livestock may enter the property
and you will not be entitled to collect damages because the livestock
entered the property. Regardless of whether you construct a fence, it is
unlawful to kill, maim or injure livestock that have entered this
property.
2. The seller shall retain a copy of the disclosure document that
has been signed by the purchaser acknowledging the date of receipt by the
purchaser of the original document.
3. Compliance with this section by a seller constitutes an
affirmative defense in any action brought against the seller by the
purchaser based upon any damages allegedly suffered as the result of
livestock entering the property.
4. As used in this section, “open range” has the meaning ascribed
to it in NRS 568.355 .
(Added to NRS by 2001, 17 )
1. Before the initial purchaser of a residence signs a sales
agreement or opens escrow, whichever occurs earlier, the seller shall, by
separate written document, disclose to the initial purchaser the zoning
classifications and the designations in the master plan regarding land
use adopted pursuant to chapter 278 of NRS,
and the general land uses described therein, for the adjoining parcels of
land. The written document must contain a statement with the following
language:
Zoning classifications describe the land uses currently permitted on a
parcel of land. Designations in the master plan regarding land use
describe the land uses that the governing city or county proposes for a
parcel of land. Zoning classifications and designations in the master
plan regarding land use are established and defined by local ordinances.
If the zoning classification for a parcel of land is inconsistent with
the designation in the master plan regarding land use for the parcel, the
possibility exists that the zoning classification may be changed to be
consistent with the designation in the master plan regarding land use for
the parcel. Additionally, the local ordinances that establish and define
the various zoning classifications and designations in the master plan
regarding land use are also subject to change.
2. If the residence is located within a subdivision, the
disclosure made pursuant to subsection 1 must be made regarding all
parcels of land adjoining the unit of the subdivision in which the
residence is located. If the residence is located on land divided by a
parcel map and not located within a subdivision, the disclosure must be
made regarding all parcels of land adjoining the parcel map. Such a
disclosure must be made regardless of whether the adjoining parcels are
owned by the seller. The seller shall retain a copy of the disclosure
document which has been signed by the initial purchaser acknowledging the
date of receipt by the initial purchaser of the original document.
3. The information contained in the disclosure document required
by subsection 1 must:
(a) Be updated not less than once every 6 months, if the
information is available from the local government;
(b) Advise the initial purchaser that the master plan is for the
general, comprehensive and long-term development of land in the area and
that the designations in the master plan regarding land use provide the
most probable indication of future development which may occur on the
surrounding properties;
(c) Advise the initial purchaser that the master plan and zoning
ordinances and regulations adopted pursuant to the master plan are
subject to change; and
(d) Provide the initial purchaser with instructions on how to
obtain more current information regarding zoning classifications and
designations in the master plan regarding land use.
4. As used in this section, “seller” means a person who sells or
attempts to sell any land or tract of land in this state which is divided
or proposed to be divided over any period into two or more lots, parcels,
units or interests, including, but not limited to, undivided interests,
which are offered, known, designated or advertised as a common unit by a
common name or as a part of a common promotional plan of advertising and
sale.
(Added to NRS by 1989, 817; A 1995, 380; 1997, 1711; 1999, 910
, 1633 , 1637 )
1. Except as otherwise provided in subsection 3, in a county whose
population is 400,000 or more, a seller may not sign a sales agreement
with the initial purchaser of a residence unless the seller, at least 24
hours before the time of the signing, provides the initial purchaser with
a disclosure document that contains:
(a) A copy of the most recent gaming enterprise district map that
has been made available for public inspection pursuant to NRS 463.309
by the city or town in which the residence is located or, if
the residence is not located in a city or town, by the county in which
the residence is located; and
(b) The location of the gaming enterprise district that is nearest
to the residence, regardless of the jurisdiction in which the nearest
gaming enterprise district is located.
Ê The seller shall retain a copy of the disclosure document that has been
signed by the initial purchaser acknowledging the time and date of
receipt by the initial purchaser of the original document.
2. The information contained in the disclosure document required
by subsection 1 must:
(a) Be updated not less than once every 6 months;
(b) Advise the initial purchaser that gaming enterprise districts
are subject to change; and
(c) Provide the initial purchaser with instructions on how to
obtain more current information regarding gaming enterprise districts.
3. The initial purchaser of a residence may waive the 24-hour
period required by subsection 1 if the seller provides the initial
purchaser with the information required by subsections 1 and 2 and the
initial purchaser signs a written waiver. The seller shall retain a copy
of the written waiver that has been signed by the initial purchaser
acknowledging the time and date of receipt by the initial purchaser of
the original document.
4. As used in this section, “seller” has the meaning ascribed to
it in NRS 113.070 .
(Added to NRS by 1999, 909 ; A 1999, 1637 )
Condition of Residential Property Offered for Sale
As used in NRS 113.100 to 113.150 ,
inclusive, unless the context otherwise requires:
1. “Defect” means a condition that materially affects the value or
use of residential property in an adverse manner.
2. “Disclosure form” means a form that complies with the
regulations adopted pursuant to NRS 113.120 .
3. “Dwelling unit” means any building, structure or portion
thereof which is occupied as, or designed or intended for occupancy as, a
residence by one person who maintains a household or by two or more
persons who maintain a common household.
4. “Residential property” means any land in this state to which is
affixed not less than one nor more than four dwelling units.
5. “Seller” means a person who sells or intends to sell any
residential property.
(Added to NRS by 1995, 842; A 1999, 1446 )
For the purposes of NRS 113.100 to 113.150 ,
inclusive:
1. A “conveyance of property” occurs:
(a) Upon the closure of any escrow opened for the conveyance; or
(b) If an escrow has not been opened for the conveyance, when the
purchaser of the property receives the deed of conveyance.
2. Service of a document is complete:
(a) Upon personal delivery of the document to the person being
served; or
(b) Three days after the document is mailed, postage prepaid, to
the person being served at his last known address.
(Added to NRS by 1995, 844)
The Real Estate Division of the
Department of Business and Industry shall adopt regulations prescribing
the format and contents of a form for disclosing the condition of
residential property offered for sale. The regulations must ensure that
the form:
1. Provides for an evaluation of the condition of any electrical,
heating, cooling, plumbing and sewer systems on the property, and of the
condition of any other aspects of the property which affect its use or
value, and allows the seller of the property to indicate whether or not
each of those systems and other aspects of the property has a defect of
which the seller is aware.
2. Provides notice:
(a) Of the provisions of NRS 113.140 and subsection 5 of NRS 113.150 .
(b) That the disclosures set forth in the form are made by the
seller and not by his agent.
(c) That the seller’s agent, and the agent of the purchaser or
potential purchaser of the residential property, may reveal the completed
form and its contents to any purchaser or potential purchaser of the
residential property.
(Added to NRS by 1995, 842)
1. Except as otherwise provided in subsections 2 and 3:
(a) At least 10 days before residential property is conveyed to a
purchaser:
(1) The seller shall complete a disclosure form regarding
the residential property; and
(2) The seller or his agent shall serve the purchaser or his
agent with the completed disclosure form.
(b) If, after service of the completed disclosure form but before
conveyance of the property to the purchaser, a seller or his agent
discovers a new defect in the residential property that was not
identified on the completed disclosure form or discovers that a defect
identified on the completed disclosure form has become worse than was
indicated on the form, the seller or his agent shall inform the purchaser
or his agent of that fact, in writing, as soon as practicable after the
discovery of that fact but in no event later than the conveyance of the
property to the purchaser. If the seller does not agree to repair or
replace the defect, the purchaser may:
(1) Rescind the agreement to purchase the property; or
(2) Close escrow and accept the property with the defect as
revealed by the seller or his agent without further recourse.
2. Subsection 1 does not apply to a sale or intended sale of
residential property:
(a) By foreclosure pursuant to chapter 107 of NRS.
(b) Between any co-owners of the property, spouses or persons
related within the third degree of consanguinity.
(c) Which is the first sale of a residence that was constructed by
a licensed contractor.
(d) By a person who takes temporary possession or control of or
title to the property solely to facilitate the sale of the property on
behalf of a person who relocates to another county, state or country
before title to the property is transferred to a purchaser.
3. A purchaser of residential property may waive any of the
requirements of subsection 1. Any such waiver is effective only if it is
made in a written document that is signed by the purchaser and notarized.
4. If a sale or intended sale of residential property is exempted
from the requirements of subsection 1 pursuant to paragraph (a) of
subsection 2, the trustee and the beneficiary of the deed of trust shall,
not later than at the time of the conveyance of the property to the
purchaser of the residential property, provide written notice to the
purchaser of any defects in the property of which the trustee or
beneficiary, respectively, is aware.
(Added to NRS by 1995, 842; A 1997, 349; 2003, 1339 ; 2005, 598 )
1. Upon signing a sales agreement with the initial purchaser of
residential property that was not occupied by the purchaser for more than
120 days after substantial completion of the construction of the
residential property, the seller shall:
(a) Provide to the initial purchaser a copy of NRS 11.202 to 11.206 ,
inclusive, and 40.600 to 40.695 , inclusive;
(b) Notify the initial purchaser of any soil report prepared for
the residential property or for the subdivision in which the residential
property is located; and
(c) If requested in writing by the initial purchaser not later than
5 days after signing the sales agreement, provide to the purchaser
without cost each report described in paragraph (b) not later than 5 days
after the seller receives the written request.
2. Not later than 20 days after receipt of all reports pursuant to
paragraph (c) of subsection 1, the initial purchaser may rescind the
sales agreement.
3. The initial purchaser may waive his right to rescind the sales
agreement pursuant to subsection 2. Such a waiver is effective only if it
is made in a written document that is signed by the purchaser.
(Added to NRS by 1999, 1446 )
