Nev. Rev. Stat. § 119.010
Definitions
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 119.015 to 119.112, inclusive, have the meanings ascribed to them in those sections.
Nevada Revised Statutes Chapter 119 — Sale of Subdivided Land: Licensing and Regulation
Nevada · statute · Nev. Rev. Stat. ch. 119 · 68 active provisions
Nev. Rev. Stat. § 119.015
“Administrator” defined
“Administrator” means the Real Estate Administrator.
Nev. Rev. Stat. § 119.020
“Blanket encumbrance” defined
“Blanket encumbrance” means a deed of trust, mortgage, judgment, including an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot offered within a subdivision, except that such term does not include any lien or other encumbrance arising as the result of the imposition…
Nev. Rev. Stat. § 119.030
“Broker” defined
“Broker” means a real estate broker licensed under the provisions of chapter 645 of NRS.
Nev. Rev. Stat. § 119.040
“Developer” defined
“Developer” means: 1. The owner of subdivided land who, on his or her own behalf or through an agent or subsidiary, offers it for sale. 2. The principal agent of an inactive owner.
Nev. Rev. Stat. § 119.045
“Director” defined
“Director” means the Director of the Department of Business and Industry.
Nev. Rev. Stat. § 119.050
“Division” defined
“Division” means the Real Estate Division of the Department of Business and Industry.
Nev. Rev. Stat. § 119.055
“Hearing officer” defined
“Hearing officer” means a member of the staff of the Department of Business and Industry whom the Administrator has appointed as a hearing officer.
Nev. Rev. Stat. § 119.060
“Offer” defined
“Offer” means every inducement, solicitation or attempt to bring about a sale.
Nev. Rev. Stat. § 119.070
“Person” defined
“Person” includes a government, a governmental agency and a political subdivision of a government.
Nev. Rev. Stat. § 119.075
“Property report” defined
“Property report” means a report, issued by the Administrator pursuant to the provisions of this chapter, which authorizes a developer to offer to sell or sell an interest in a subdivision and contains the disclosures required in NRS 119.182.
Nev. Rev. Stat. § 119.080
“Purchaser” defined
“Purchaser” means any person who acquires or attempts to acquire an interest in any portion of a subdivision.
Nev. Rev. Stat. § 119.090
“Registered representative” defined
“Registered representative” is any person who is employed or engaged by a developer to represent a company for compensation in offering or selling subdivided lands pursuant to this chapter, but does not include any officer of the developer or any of the subsidiaries of the developer, or any owner, partner or associate…
Nev. Rev. Stat. § 119.100
“Sale” defined
“Sale” means any sale, exchange, lease, assignment or other transaction designed to convey an interest in any portion of a subdivision when undertaken for profit.
Nev. Rev. Stat. § 119.105
“Statement of record” defined
“Statement of record” means the information submitted to the Administrator by the developer in its application for a permit to offer to sell or sell an interest in a subdivision.
Nev. Rev. Stat. § 119.110
“Subdivision” defined
“Subdivision” means any land or tract of land in another state, in this state or in a foreign country from which a sale is attempted, which is divided or proposed to be divided over any period into 35 or more lots, parcels, units or interests, including but not limited to undivided interests, which are offered, known,…
Nev. Rev. Stat. § 119.112
“Unit” defined
“Unit” means the smallest salable portion of a subdivision.
Nev. Rev. Stat. § 119.114
Administration by Real Estate Division; duties of Attorney General
1. The Division may do all things necessary and convenient for carrying into effect the provisions of this chapter. 2. The Attorney General shall provide opinions for the Division on all questions of law relating to the construction or interpretation of this chapter, or arising out of the administration thereof. 3. The…
Nev. Rev. Stat. § 119.115
Authority for Real Estate Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions
1. The Administrator may adopt regulations which establish procedures for the Division to conduct business electronically pursuant to title 59 of NRS with persons who are regulated pursuant to this chapter and with any other persons with whom the Division conducts business. The regulations may include, without limitati…
Nev. Rev. Stat. § 119.116
Employment of counsel, investigators and professional consultants
The Division may employ, without regard to the provisions of NRS 228.110 or of chapter 284 of NRS, legal counsel, investigators and other professional consultants necessary to the discharge of its duties.
Nev. Rev. Stat. § 119.118
Support of Division by legislative appropriation; disposition of fees and charges
Except as otherwise provided in paragraph (b) of subsection 1 of NRS 119.320, all fees and charges received by the Division shall be deposited in the General Fund in the State Treasury. Funds for the support of the Division shall be provided by direct legislative appropriation, and shall be paid out on claims as other…
Nev. Rev. Stat. § 119.119
Applicability to subdivision registered under Interstate Land Sales Full Disclosure Act
Any subdivision which has been registered under the Interstate Land Sales Full Disclosure Act, 15 U.S.C. §§ 1701 to 1720, inclusive, is subject to all of the requirements of this chapter, except that its developer may file with the Division a copy of an effective statement of record filed with the Secretary of Housing…
Nev. Rev. Stat. § 119.1193
Applicability to subdivision restricted exclusively to nonresidential use
The provisions of this chapter do not apply to any subdivision in which all lots, parcels, units or interests of the subdivision are restricted exclusively to nonresidential use.
Nev. Rev. Stat. § 119.1197
Exemptions: Undivided interests in unimproved land that is undivided, located outside Nevada and offered for investment purposes; requirements to obtain exemption; regulations; revocation; complaints
1. The provisions of this chapter do not apply, unless the method of disposition is adopted to evade those provisions or the provisions of the Interstate Land Sales Full Disclosure Act, 15 U.S.C. §§ 1701 to 1720, inclusive, upon notification to the Division by the person electing to be exempt under this subsection, to…
Nev. Rev. Stat. § 119.120
Exemptions: Single purchase; large lots; contractors; court orders; governmental agencies
The provisions of this chapter do not apply, unless the method of disposition is adopted to evade those provisions or the provisions of the Interstate Land Sales Full Disclosure Act, 15 U.S.C. §§ 1701 to 1720, inclusive, upon notification to the Division by the person electing to be exempt under this section, to the ma…
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