Find Laws Find Lawyers Free Legal Forms USA State Laws

NEVADA STATUTES AND CODES

119A.470 - Conveyance of project to trustee before close of escrow for first sale.

119A.470  Conveyance of project to trustee before close of escrow for first sale.

      1.  If title to a project is conveyed to a trustee pursuant to subsection 3 of NRS 119A.430, before escrow closes for the sale of the first time share, the developer must provide the Division with satisfactory evidence that:

      (a) Title to the project has been conveyed to the trustee.

      (b) All proceeds received by the developer from the sales of time shares are being delivered to the trustee and deposited in a fund which has been established to provide for the payment of any taxes, costs of insurance or the discharge of any lien recorded against the project.

      2.  The trustee shall pay the charges against the trust in the following order:

      (a) Trustee’s fees and costs.

      (b) Payment of taxes.

      (c) Payments due any holder of a lien recorded against the project.

      (d) Any other payments authorized by the document creating the trust.

      3.  The Administrator may inspect the records relating to the trust at any reasonable time.

      (Added to NRS by 1983, 983; A 1985, 1142; 2001, 2507)

     

Nevada Forms by Issue

Nevada Business Forms
Nevada Court Forms
> DUI
> Small Claims
Nevada Divorce Forms
Nevada Family Forms
Nevada Guardianship Forms
Nevada Gun Forms
Nevada Insurance Forms
Nevada Name Change Forms
Nevada Tax Forms

Nevada Law

Nevada State Laws
    > Nevada Child Support
    > Nevada Gun Laws
    > Nevada Statutes
Nevada Tax
    > Nevada State Tax
Nevada Labor laws
    > Nevada Unemployment Claims
    > Unemployment Nevada
Nevada Court
    > Nevada Appeal
Nevada Agencies
    > Nevada DMV
    > Nevada Secretary of State Business Search
    > Secretary of State Nevada

Nevada Court Map

Tips