119.121 - Exemptions: Single purchase; small lots; requirements for partial registration. - Nevada Statutes

119.121  Exemptions: Single purchase; small lots; requirements for partial registration.  Unless the method of disposition is adopted to evade the provisions of this chapter or of the provisions of the Interstate Land Sales Full Disclosure Act, 15 U.S.C. §§ 1701 to 1720, inclusive, if each lot, parcel, interest or unit being offered or disposed of in any subdivision is at least one-sixteenth of a section as described by a survey of the government land office, but not less than 35 acres, or 40 acres in area, including roadways and easements, but not more than 80 acres in size, and the developer:

      1.  Completes an application in such form and containing such reasonable information as the Division may require;

      2.  Pays the fees prescribed in this chapter for a permit for partial registration;

      3.  Requires the purchaser or his or her agent to inspect the land before purchasing it; and

      4.  Signs an affirmation which states that the purchaser or his or her agent has inspected the land before purchasing it and makes that affirmation a matter of record pursuant to the regulations of the Division,

Ê the developer need only comply with the provisions of NRS 119.183, 119.1835, 119.184 and 119.230.

      (Added to NRS by 1985, 1406; A 1997, 1964)