NRS 116B.725 Applicability; exceptions.

108 words·~1 min read·/nv/chapter-116b-condominium-hotel-act/116b-725·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Except as otherwise provided in subsection 2, NRS 116B.725 to 116B.795 , inclusive, apply to all condominium hotels.

2. Neither a public offering statement nor a certificate of resale need be prepared or delivered in the case of a:

(a)Gratuitous disposition of a unit;

(b)Disposition pursuant to court order;

(c)Disposition by a government or governmental agency;

(d)Disposition by foreclosure or deed in lieu of foreclosure;

(e)Disposition to a dealer;

(f)Disposition that may be cancelled at any time and for any reason by the purchaser without penalty; or

(g)Disposition of a unit not used for residential use.