2005 Nevada Revised Statutes - Chapter 113 — Sales of Real Property
CHAPTER 113 - SALES OF REAL PROPERTY
SALES BY PUBLIC OFFICERS
NRS 113.010 Successorin office may execute deeds.
NRS 113.020 Evidentiaryeffect of deed made by successor in office.
RISKS OF VENDOR AND PURCHASER (UNIFORM ACT)
NRS 113.030 Shorttitle.
NRS 113.040 Rightsand duties under contract for purchase and sale of real property when propertydestroyed.
NRS 113.050 Construction.
REQUIRED DISCLOSURES
General Information
NRS 113.060 Certainsellers to give notice of rates for water and sewerage services.
NRS 113.065 Requireddisclosure upon sale of home or improved lot adjacent to open range; disclosureconstitutes affirmative defense in action resulting from livestock enteringproperty.
NRS 113.070 Requireddisclosures by certain sellers relating to zoning classifications, designationsin master plan regarding land use and general land uses described in masterplan.
NRS 113.080 Additionalrequired disclosures by certain sellers in county whose population is 400,000or more relating to gaming enterprise districts.
Condition of Residential Property Offered for Sale
NRS 113.100 Definitions.
NRS 113.110 Conditionsrequired for conveyance of property and to complete service of document.
NRS 113.120 Regulationsprescribing format and contents of form for disclosing condition of property.
NRS 113.130 Completionand service of disclosure form before conveyance of property; discovery orworsening of defect after service of form; exceptions; waiver.
NRS 113.135 Certainsellers to provide copies of certain provisions of NRS and give notice ofcertain soil reports; initial purchaser entitled to rescind sales agreement incertain circumstances; waiver of right to rescind.
NRS 113.140 Disclosureof unknown defect not required; form does not constitute warranty; duty ofbuyer and prospective buyer to exercise reasonable care.
NRS 113.150 Remediesfor sellers delayed disclosure or nondisclosure of defects in property;waiver.
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SALES BY PUBLIC OFFICERS
NRS
[1:15:1862; B 309; BH 2660; C 2732; RL 1662;NCL 2162]
NRS
[2:15:1862; B 310; BH 2661; C 2733; RL 1663;NCL 2163]
RISKS OF VENDOR AND PURCHASER (UNIFORM ACT)
NRS
(Added to NRS by 1977, 659)
NRS
1. If, when neither the legal title nor possession ofthe subject matter of the contract has been transferred, all or a material partof the subject matter is destroyed without fault of the purchaser or is takenby eminent domain, the vendor cannot enforce the contract and the purchaser isentitled to recover any portion of the price that he has paid.
2. If, when either the legal title or the possessionof the subject matter of the contract has been transferred, all or any part ofthe subject matter is destroyed without fault of the vendor or is taken byeminent domain, the purchaser is not thereby relieved of a duty to pay theprice nor is he entitled to recover any portion of the price which he has paid.
(Added to NRS by 1977, 659)
NRS
(Added to NRS by 1977, 659)
REQUIRED DISCLOSURES
General In
NRS
1. Any person who is proposing to sell a previouslyunsold home or improved lot for which water or sewerage services will beprovided by a public utility that:
(a) Serves or plans to serve more than 25 customers;and
(b) Presently serves fewer than 2,000 customers,
shall postin a conspicuous place on the property or at his sales office if an improvedlot is being sold, a notice which states the current rates to be charged forsuch services or, if the public utility is not presently serving customers, theprojected rates to be charged. The notice must also contain the name, addressand telephone number of the public utility and the Division of ConsumerComplaint Resolution of the Public Utilities Commission of Nevada.
2. Before the home or lot is sold, the seller shallgive the purchaser a copy of the notice described in subsection 1.
(Added to NRS by 1987, 476; A 1997, 1963)
NRS
1. Before the purchaser of a home or improved lot thatis adjacent to open range signs a sales agreement, the seller shall, byseparate written document, disclose to the purchaser information regardinggrazing on the open range. The written document must contain a statement withthe following language:
This property is adjacent to openrange on which livestock are permitted to graze or roam. Unless you construct afence that will prevent livestock from entering this property, livestock mayenter the property and you will not be entitled to collect damages because thelivestock entered the property. Regardless of whether you construct a fence, itis unlawful to kill, maim or injure livestock that have entered this property.
2. The seller shall retain a copy of the disclosuredocument that has been signed by the purchaser acknowledging the date ofreceipt by the purchaser of the original document.
3. Compliance with this section by a sellerconstitutes an affirmative defense in any action brought against the seller bythe purchaser based upon any damages allegedly suffered as the result oflivestock entering the property.
4. As used in this section, open range has themeaning ascribed to it in NRS 568.355.
(Added to NRS by
NRS
1. Before the initial purchaser of a residence signs asales agreement or opens escrow, whichever occurs earlier, the seller shall, byseparate written document, disclose to the initial purchaser the zoningclassifications and the designations in the master plan regarding land useadopted pursuant to chapter 278 of NRS, andthe general land uses described therein, for the adjoining parcels of land. Thewritten document must contain a statement with the following language:
Zoning classifications describe theland uses currently permitted on a parcel of land. Designations in the masterplan regarding land use describe the land uses that the governing city orcounty proposes for a parcel of land. Zoning classifications and designationsin the master plan regarding land use are established and defined by localordinances. If the zoning classification for a parcel of land is inconsistentwith the designation in the master plan regarding land use for the parcel, thepossibility exists that the zoning classification may be changed to beconsistent with the designation in the master plan regarding land use for theparcel. Additionally, the local ordinances that establish and define thevarious zoning classifications and designations in the master plan regardingland 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 parcelsof land adjoining the unit of the subdivision in which the residence islocated. If the residence is located on land divided by a parcel map and notlocated within a subdivision, the disclosure must be made regarding all parcelsof land adjoining the parcel map. Such a disclosure must be made regardless ofwhether the adjoining parcels are owned by the seller. The seller shall retaina copy of the disclosure document which has been signed by the initialpurchaser acknowledging the date of receipt by the initial purchaser of theoriginal document.
3. The information contained in the disclosuredocument required by subsection 1 must:
(a) Be updated not less than once every 6 months, ifthe information is available from the local government;
(b) Advise the initial purchaser that the master planis for the general, comprehensive and long-term development of land in the areaand that the designations in the master plan regarding land use provide themost probable indication of future development which may occur on thesurrounding properties;
(c) Advise the initial purchaser that the master planand zoning ordinances and regulations adopted pursuant to the master plan aresubject to change; and
(d) Provide the initial purchaser with instructions onhow to obtain more current information regarding zoning classifications anddesignations in the master plan regarding land use.
4. As used in this section, seller means a personwho sells or attempts to sell any land or tract of land in this state which isdivided or proposed to be divided over any period into two or more lots,parcels, units or interests, including, but not limited to, undividedinterests, which are offered, known, designated or advertised as a common unitby a common name or as a part of a common promotional plan of advertising andsale.
(Added to NRS by 1989, 817; A 1995, 380; 1997, 1711;
NRS
1. Except as otherwise provided in subsection 3, in acounty whose population is 400,000 or more, a seller may not sign a salesagreement with the initial purchaser of a residence unless the seller, at least24 hours before the time of the signing, provides the initial purchaser with adisclosure document that contains:
(a) A copy of the most recent gaming enterprise districtmap that has been made available for public inspection pursuant to
(b) The location of the gaming enterprise district thatis nearest to the residence, regardless of the jurisdiction in which thenearest gaming enterprise district is located.
The sellershall retain a copy of the disclosure document that has been signed by theinitial purchaser acknowledging the time and date of receipt by the initial purchaserof the original document.
2. The information contained in the disclosuredocument required by subsection 1 must:
(a) Be updated not less than once every 6 months;
(b) Advise the initial purchaser that gaming enterprisedistricts are subject to change; and
(c) Provide the initial purchaser with instructions onhow to obtain more current information regarding gaming enterprise districts.
3. The initial purchaser of a residence may waive the24-hour period required by subsection 1 if the seller provides the initialpurchaser with the information required by subsections 1 and 2 and the initialpurchaser signs a written waiver. The seller shall retain a copy of the writtenwaiver that has been signed by the initial purchaser acknowledging the time anddate of receipt by the initial purchaser of the original document.
4. As used in this section, seller has the meaningascribed to it in NRS 113.070.
(Added to NRS by
Condition of Residential Property Offered for Sale
NRS
1. Defect means a condition that materially affectsthe value or use of residential property in an adverse manner.
2. Disclosure form means a form that complies withthe regulations adopted pursuant to NRS113.120.
3. Dwelling unit means any building, structure orportion 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 personswho maintain a common household.
4. Residential property means any land in this stateto which is affixed not less than one nor more than four dwelling units.
5. Seller means a person who sells or intends tosell any residential property.
(Added to NRS by 1995, 842; A
NRS
1. A conveyance of property occurs:
(a) Upon the closure of any escrow opened for theconveyance; or
(b) If an escrow has not been opened for theconveyance, 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 theperson being served; or
(b) Three days after the document is mailed, postageprepaid, to the person being served at his last known address.
(Added to NRS by 1995, 844)
NRS
1. Provides for an evaluation of the condition of anyelectrical, heating, cooling, plumbing and sewer systems on the property, andof the condition of any other aspects of the property which affect its use orvalue, and allows the seller of the property to indicate whether or not each ofthose systems and other aspects of the property has a defect of which theseller is aware.
2. Provides notice:
(a) Of the provisions of
(b) That the disclosures set forth in the form are madeby the seller and not by his agent.
(c) That the sellers agent, and the agent of thepurchaser or potential purchaser of the residential property, may reveal thecompleted form and its contents to any purchaser or potential purchaser of theresidential property.
(Added to NRS by 1995, 842)
NRS
1. Except as otherwise provided in subsections 2 and 3:
(a) At least 10 days before residential property isconveyed to a purchaser:
(1) The seller shall complete a disclosure formregarding the residential property; and
(2) The seller or his agent shall serve thepurchaser or his agent with the completed disclosure form.
(b) If, after service of the completed disclosure formbut before conveyance of the property to the purchaser, a seller or his agentdiscovers a new defect in the residential property that was not identified onthe completed disclosure form or discovers that a defect identified on thecompleted disclosure form has become worse than was indicated on the form, theseller or his agent shall inform the purchaser or his agent of that fact, inwriting, as soon as practicable after the discovery of that fact but in noevent later than the conveyance of the property to the purchaser. If the sellerdoes not agree to repair or replace the defect, the purchaser may:
(1) Rescind the agreement to purchase theproperty; or
(2) Close escrow and accept the property withthe defect as revealed by the seller or his agent without further recourse.
2. Subsection 1 does not apply to a sale or intendedsale of residential property:
(a) By foreclosure pursuant to
(b) Between any co-owners of the property, spouses orpersons related within the third degree of consanguinity.
(c) Which is the first sale of a residence that wasconstructed by a licensed contractor.
(d) By a person who takes temporary possession orcontrol of or title to the property solely to facilitate the sale of theproperty on behalf of a person who relocates to another county, state orcountry before title to the property is transferred to a purchaser.
3. A purchaser of residential property may waive anyof the requirements of subsection 1. Any such waiver is effective only if it ismade in a written document that is signed by the purchaser and notarized.
4. If a sale or intended sale of residential propertyis exempted from the requirements of subsection 1 pursuant to paragraph (a) ofsubsection 2, the trustee and the beneficiary of the deed of trust shall, notlater than at the time of the conveyance of the property to the purchaser ofthe residential property, provide written notice to the purchaser of anydefects in the property of which the trustee or beneficiary, respectively, isaware.
(Added to NRS by 1995, 842; A 1997, 349;
NRS
1. Upon signing a sales agreement with the initialpurchaser of residential property that was not occupied by the purchaser formore than 120 days after substantial completion of the construction of theresidential property, the seller shall:
(a) Provide to the initial purchaser a copy of
(b) Notify the initial purchaser of any soil reportprepared for the residential property or for the subdivision in which theresidential property is located; and
(c) If requested in writing by the initial purchasernot later than 5 days after signing the sales agreement, provide to thepurchaser without cost each report described in paragraph (b) not later than 5days after the seller receives the written request.
2. Not later than 20 days after receipt of all reportspursuant to paragraph (c) of subsection 1, the initial purchaser may rescindthe sales agreement.
3. The initial purchaser may waive his right torescind the sales agreement pursuant to subsection 2. Such a waiver iseffective only if it is made in a written document that is signed by thepurchaser.
(Added to NRS by
NRS
1. NRS 113.130does not require a seller to disclose a defect in residential property of whichhe is not aware.
2. A completed disclosure form does not constitute anexpress or implied warranty regarding any condition of residential property.
3. Neither this chapter nor
(Added to NRS by 1995, 843; A
NRS
1. If a seller or his agent fails to serve a completeddisclosure form in accordance with the requirements of
2. If, before the conveyance of the property to thepurchaser, a seller or his agent informs the purchaser or his agent, throughthe disclosure form or another written notice, of a defect in the property ofwhich the cost of repair or replacement was not limited by provisions in theagreement to purchase the property, the purchaser may:
(a) Rescind the agreement to purchase the property atany time before the conveyance of the property to the purchaser; or
(b) Close escrow and accept the property with thedefect as revealed by the seller or his agent without further recourse.
3. Rescission of an agreement pursuant to subsection 2is effective only if made in writing, notarized and served not later than 4working days after the date on which the purchaser is informed of the defect:
(a) On the holder of any escrow opened for theconveyance; or
(b) If an escrow has not been opened for theconveyance, on the seller or his agent.
4. Except as otherwise provided in subsection 5, if aseller conveys residential property to a purchaser without complying with therequirements of NRS 113.130 or otherwiseproviding the purchaser or his agent with written notice of all defects in theproperty of which the seller is aware, and there is a defect in the property ofwhich the seller was aware before the property was conveyed to the purchaserand of which the cost of repair or replacement was not limited by provisions inthe agreement to purchase the property, the purchaser is entitled to recoverfrom the seller treble the amount necessary to repair or replace the defectivepart of the property, together with court costs and reasonable attorneys fees.An action to enforce the provisions of this subsection must be commenced notlater than 1 year after the purchaser discovers or reasonably should havediscovered the defect or 2 years after the conveyance of the property to thepurchaser, whichever occurs later.
5. A purchaser may not recover damages from a sellerpursuant to subsection 4 on the basis of an error or omission in the disclosureform that was caused by the sellers reliance upon information provided to theseller by:
(a) An officer or employee of this state or anypolitical subdivision of this state in the ordinary course of his duties; or
(b) A contractor, engineer, land surveyor, certifiedinspector as defined in NRS 645D.040or pesticide applicator, who was authorized to practice that profession in thisstate at the time the information was provided.
6. A purchaser of residential property may waive anyof his rights under this section. Any such waiver is effective only if it ismade in a written document that is signed by the purchaser and notarized.
(Added to NRS by 1995, 843; A 1997, 350, 1797)
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