2005 Nevada Revised Statutes - Chapter 117 — Condominiums
NRS 117.010 Definitions.
NRS 117.020 Applicability;recordation, amendment and revocation of plan of project.
NRS 117.030 Conveyanceof unit: Presumption of conveyance of entire condominium.
NRS 117.040 Incidentsof grant.
NRS 117.050 Partitionof project.
NRS 117.060 Declarationof restrictions.
NRS 117.065 Maintenancefees: Custodial accounts; records.
NRS 117.070 Assessmentliens: Recording of notice of assessment; priority and expiration of lien;enforcement by sale.
NRS 117.075 Assessmentliens: Exercise of power of sale.
NRS 117.080 Otherliens.
NRS 117.090 Commonpersonalty.
NRS 117.100 Liberalconstruction of deed, declaration or plan for project.
NRS 117.103 Rulesagainst perpetuities and unreasonable restraints on alienation.
NRS 117.105 Interestof unit owner conveyed by tax deed.
NRS 117.110 Constructionof local zoning ordinances.
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1. Common areas means the entire project exceptingall units therein granted or reserved.
2. Condominium means an estate in real propertyconsisting of an undivided interest in common in portions of a parcel of realproperty together with:
(a) A separate interest in space in a residential,industrial or commercial building or industrial and commercial building on suchreal property, such as, but not restricted to, an apartment, office or store;or
(b) A separate interest in air space only, without anybuilding or structure, to be used for a mobile home.
Acondominium may include in addition a separate interest in other portions ofsuch real property. Such estate may, with respect to the duration of itsenjoyment, be either an estate of inheritance or perpetual estate, an estatefor life, or an estate for years.
3. Project means the entire parcel of real propertydivided or to be divided into condominiums, including all structures thereon.
4. To divide real property means to divide theownership thereof by conveying one or more condominiums therein but less thanthe whole thereof.
5. Unit means the elements of a condominium whichare not owned in common with the owners of other condominiums in the project.
(Added to NRS by 1963, 126; A 1967, 200; 1981, 990)
NRS
1. The provisions of this chapter apply to propertydivided into condominiums only if there was recorded before January 1, 1992, inthe county in which the property lies a plan consisting of:
(a) A description or survey map of the surface of theland included within the project;
(b) Diagrammatic floor plans of the building orbuildings built or to be built thereon in sufficient detail to identify eachunit, its relative location and approximate dimensions; and
(c) A certificate consenting to the recordation of theplan pursuant to this chapter signed and acknowledged by the record owner ofthe property and by all record holders of security interests therein.
2. The plan may be amended or revoked by asubsequently acknowledged recorded instrument executed by the record owner ofthe property and by all record holders of security interests therein. Untilrecordation of a revocation, the provisions of this chapter continue to applyto the property.
3. The term record owner as used in this sectionincludes all of the record owners of the property at the time of recordation,but does not include holders of security interests, mineral interests,easements or rights-of-way.
(Added to NRS by 1963, 126; A 1991, 580)
NRS
(Added to NRS by 1963, 127)
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1. The boundaries of the unit granted are the interiorsurfaces of the perimeter walls, floors, ceilings, windows and doors thereof,and the unit includes both the portions of the buildings so described and theairspace so encompassed. The following are not part of the unit: Bearing walls,columns, floors, roofs, foundations, elevator equipment and shafts, centralheating, central refrigeration and central air-conditioning equipment,reservoirs, tanks, pumps and other central services, pipes, ducts, flues,chutes, conduits, wires and other utility installations, wherever located,except the outlets thereof when located within the unit. In interpreting deedsand plans the existing physical boundaries of the unit or of a unitreconstructed in substantial accordance with the original plans thereof shallbe conclusively presumed to be its boundaries rather than the metes and boundsexpressed in the deed or plan, regardless of settling or lateral movement ofthe building and regardless of minor variances between boundaries shown on theplan or in the deed and those of the building.
2. The common areas are owned by the owners of theunit as tenants in common in equal shares, one for each unit.
3. A nonexclusive easement for ingress, egress andsupport through the common areas is appurtenant to each unit and the commonareas are subject to such easements.
4. Each condominium owner shall have the exclusiveright to paint, repaint, tile, wax, paper or otherwise refinish and decoratethe inner surfaces of the walls, ceilings, floors, windows and doors boundinghis own unit.
(Added to NRS by 1963, 127)
NRS
1. Where several persons own condominiums in acondominium project, an action may be brought pursuant to
(a) Three years after damage or destruction to theproject which renders a material part thereof unfit for its use prior thereto,the project has not been rebuilt or repaired substantially to its state priorto its damage or destruction; or
(b) Three-fourths or more of the project has beendestroyed or substantially damaged, and that condominium owners holding inaggregate more than 50 percent interest in the common areas are opposed torepair or restoration of the project; or
(c) The project has been in existence in excess of 50years, that it is obsolete and uneconomic, and that condominium owners holdingin aggregate more than 50 percent interest in the common areas are opposed torepair or restoration of the project; or
(d) Conditions for such a partition by sale set forthin restrictions entered into with respect to such project have been met.
2. Except as provided in subsection 1, the commonareas shall remain undivided, and there shall be no judicial partition thereof.Nothing herein shall be deemed to prevent partition of a cotenancy in acondominium.
(Added to NRS by 1963, 127)
NRS
1. For the management of the project by one or more ofthe following management bodies:
(a) The condominium owners;
(b) A board of governors elected by the owners; or
(c) A management agent elected by the owners or theboard or named in the declaration.
2. For voting majorities, quorums, notices, meetingdates and other rules governing such body or bodies.
3. As to any such management body:
(a) For the powers thereof, including power to enforcethe provisions of the declaration of restrictions;
(b) For maintenance by it of fire, casualty, liability,workmens compensation and other insurance insuring condominium owners, and forbonding of the members of any management body;
(c) For provision by it of and payment by it formaintenance, utility, gardening and other services benefiting the common areas,for employment of personnel necessary for operation of the building, and legaland accounting services;
(d) For purchase by it of materials, supplies and thelike and for maintenance and repair of the common areas;
(e) For payment by it of taxes which would be a lienupon the entire project or common areas, and for discharge by it of any lien orencumbrance levied against the entire project or common areas;
(f) For payment by it for reconstruction of any portionor portions of the project damaged or destroyed;
(g) For delegation by it of its powers;
(h) For entry by it or its agents into any unit whennecessary in connection with maintenance or construction for which such body isresponsible; and
(i) For the power of the management body to sell theentire project for the benefit of all of the owners thereof when partition ofthe project may be had under NRS 117.050,which power shall be binding upon all of the owners, whether they assume theobligations of the restrictions or not.
4. For amendments of such restrictions, whichamendments, if reasonable and made upon vote or consent of a majority ininterest of the owners in the project given after reasonable notice, shall bebinding upon every owner and every condominium subject thereto, whether theburdens thereon are increased or decreased thereby, and whether the owner ofeach and every condominium consents thereto or not.
5. For independent audit of the accounts of anymanagement body.
6. For reasonable assessments to meet authorizedexpenditures of any management body, and for a reasonable method for notice andlevy thereof, each condominium to be assessed separately for its share of suchexpense in proportion (unless otherwise provided) to its owners fractionalinterest in any common areas, and for the subordination of the liens securingsuch assessments to other liens either generally or specifically described.
7. For the conditions upon which partition may be hadof the project pursuant to NRS 117.050.Such right to partition may be conditioned upon failure of the condominiumowners to elect to rebuild within a certain period, specified inadequacy ofinsurance proceeds, specified damage to the building, a decision of anarbitrator, or upon any other reasonable condition.
8. For restrictions upon the severability of thecomponent interests in real property which comprise a condominium. No suchrestrictions shall extend beyond the period in which the right to partition aproject is suspended under NRS 117.050.
(Added to NRS by 1963, 128)
NRS
1. Immediately deposit the money in a separatecustodial account maintained by him with some bank, credit union or recognizeddepositary in this State.
2. Keep records of all such money deposited therein.
(Added to NRS by 1965, 1219; A
NRS
1. A reasonable assessment upon any condominium madein accordance with a recorded declaration of restrictions permitted by
(a) The amount of such assessment and such othercharges thereon as may be authorized by the declaration of restrictions;
(b) A description of the condominium against which thesame has been assessed; and
(c) The name of the record owner thereof.
Such noticeshall be signed by an authorized representative of the management body or asotherwise provided in the declaration of restrictions. Upon payment of theassessment and charges in connection with which such notice has been sorecorded, or other satisfaction thereof, the management body shall cause to berecorded a further notice stating the satisfaction and the release of the lienthereof.
2. Such lien shall be prior to all other liensrecorded subsequent to the recordation of the notice of assessment except thatthe declaration of restrictions may provide for the subordination thereof toany other liens and encumbrances. Unless sooner satisfied and released or theenforcement thereof initiated as provided in subsection 3, such lien shallexpire and be of no further force or effect 1 year from the date of recordationof the notice of assessment, but the 1-year period may be extended by themanagement body for not to exceed 1 additional year by recording a written extensionthereof.
3. Such lien may be enforced by sale by the managementbody, its agent or attorney, after failure of the owner to pay such anassessment in accordance with the terms of the declaration of restrictions. Thesale shall be conducted in accordance with the provisions of Covenants Nos. 6,7 and 8 of NRS 107.030, and
(Added to NRS by 1963, 129; A 1975, 978)
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1. The power of sale conferred in
(a) The management body, its agent or attorney hasfirst executed and caused to be recorded with the recorder of the countywherein the condominium is located a notice of default and election to sell thecondominium or cause its sale to satisfy the assessment lien; and
(b) The condominium owner or his successor in interesthas failed to pay the amount of the lien, including costs, fees and expensesincident to its enforcement for a period of 60 days computed as prescribed insubsection 2.
2. The 60-day period provided in subsection 1 shallcommence on the first day following the day upon which the notice of defaultand election to sell is recorded as herein provided and a copy of the notice ismailed by certified or registered mail with postage prepaid to the condominiumowner or to his successor in interest at his address if such address is known,otherwise to the address of the condominium unit. The notice shall describe thedeficiency in payment.
3. The management body, its agent or attorney shall,after expiration of the 60-day period and prior to selling the condominium,give notice of the time and place of the sale in the manner and for a time notless than that required by law for the sale of real property upon execution,except that a copy of the notice of sale shall be mailed on or before the firstpublication or posting required by NRS21.130 by certified or registered mail with postage prepaid to thecondominium owner or to his successor in interest at his address if suchaddress is known, otherwise to the address of the condominium unit. The saleitself may be made at the office of the management body if the notice soprovided, whether the condominium is located within the same county as theoffice of the management body or not.
4. Every sale made under the provisions of
(Added to NRS by 1975, 977)
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(Added to NRS by 1963, 130)
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(Added to NRS by 1963, 130)
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(Added to NRS by 1963, 131)
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(Added to NRS by 1967, 200; A 1987, 65)
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(Added to NRS by 1967, 200)
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(Added to NRS by 1963, 131)
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