NRS 624.602 Required disclosure and provision of builder’s warranty to purchaser by licensee who completes construction of new, single-family residence.
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NRS 624.602 Required disclosure and provision of builder’s warranty to purchaser by licensee who completes construction of new, single-family residence.
1. A licensee who completes construction of a new, single-family residence shall provide to the purchaser of the residence:
(a)A separate, single-page disclosure describing the rights of the purchaser under this chapter, including, without limitation, the right to file a complaint pursuant to NRS 624.480 seeking recovery from the account established pursuant to NRS 624.470 ; and
(b)A builder’s warranty that meets the requirements of this section.
2. A builder’s warranty provided by a licensee pursuant to this section must:
(a)Be in writing.
(b)Be valid for a period of at least 1 year from the date of completion of a written punch list. As used in this paragraph, “punch list” means a list of any materials or work describing incomplete or incorrect installations or incidental damage to existing finishes, material and structures that do not conform to the specifications of the contract or the requirements of subsection 1 of NRS 624.3017 .
(c)Contain terms that include, without limitation, warrantying all home systems, workmanship, materials, plumbing, electrical and mechanical systems, appliances installed by contractors, fixtures, equipment and structural components, unless a separate warranty is provided by the manufacturer or installer of such a product, component or system.
(d)Be transferable to a subsequent purchaser of the residence.
(e)Not be deemed, construed or interpreted to constitute a waiver or release of any other warranty from the licensee provided by contract or otherwise available under the laws of this State.