{"data":{"id":"us-nv/nrs-119a.430","jurisdiction":"us-nv","citation":"NRS 119A.430","heading":"Requirements for closing of sale of time share.","body":"The sale of a time share to a purchaser may not be closed unless the developer has provided satisfactory evidence to the Administrator that:\n1. The project is free and clear of any blanket encumbrance;\n2. Each person who holds an interest in the blanket encumbrance has executed an agreement, approved by the Administrator, to subordinate his or her rights to the rights of the purchaser;\n3. Title to the project has been conveyed to a trustee;\n4. All holders of a lien recorded against the project have recorded an instrument providing for the release and reconveyance of each time share from the lien upon the payment of a specified sum or the performance of a specified act;\n5. The developer has obtained and recorded one or more binding nondisturbance agreements acceptable to the Administrator, that:\n(a) Are executed by the developer, all holders of a lien recorded against the project and any other person whose interest in the project could defeat the rights or interests of any purchaser under the time-share instrument or contract of sale; and\n(b) Provide that any person whose interest in the project could defeat the rights or interests of any purchaser under the time-share instrument or contract of sale takes title to the project subject to the rights of the purchasers; or\n6. Alternative arrangements have been made which are adequate to protect the rights of the purchasers of the time shares and approved by the Administrator.","path":["TITLE 10 — PROPERTY RIGHTS AND TRANSACTIONS","CHAPTER 119A - TIME SHARES","SALE OF TIME SHARES"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-119A.html#NRS119ASec430","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:32Z","sha256":"b24c9ca7fda62aa746fd5b375e73c454b077f2b6aaa0cbe8fc7983cea6d184cf","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-119a.420","next":"us-nv/nrs-119a.450"},"notice":"GroundRules: Original legal text. Not legal advice."}