{"data":{"id":"us-nv/nrs-116.4101","jurisdiction":"us-nv","citation":"NRS 116.4101","heading":"Applicability; exceptions.","body":"1. NRS 116.4101 to 116.412, inclusive, apply to all units subject to this chapter, except as otherwise provided in subsection 2 or as modified or waived by agreement of purchasers of units in a common-interest community in which all units are restricted to nonresidential use.\n2. Neither a public offering statement nor a resale package described in NRS 116.4109 need be prepared or delivered in the case of a:\n(a) Gratuitous disposition of a unit;\n(b) Disposition pursuant to court order;\n(c) Disposition by a government or governmental agency;\n(d) Disposition by foreclosure or deed in lieu of foreclosure;\n(e) Disposition to a dealer;\n(f) Disposition that may be cancelled at any time and for any reason by the purchaser without penalty;\n(g) Disposition of a unit in a planned community which contains no more than 12 units if:\n(1) The declarant reasonably believes in good faith that the maximum assessment stated in the declaration will be sufficient to pay the expenses of the planned community; and\n(2) The declaration cannot be amended to increase the assessment during the period of the declarant’s control without the consent of all units’ owners; or\n(h) Disposition of a unit restricted to nonresidential purposes.","path":["TITLE 10 — PROPERTY RIGHTS AND TRANSACTIONS","CHAPTER 116 - COMMON-INTEREST OWNERSHIP (UNIFORM ACT)","PROTECTION OF PURCHASERS"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-116.html#NRS116Sec4101","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:32Z","sha256":"85745b655272c7cb533971c3606b616fae0ce5aabfa5ef55bdda5c38de7725e5","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-116.350","next":"us-nv/nrs-116.4102"},"notice":"GroundRules: Original legal text. Not legal advice."}