489.778 - Potential liability of transferor and agent to transferee; options of transferee upon disclosure; rights and remedies additional. - Nevada Statutes

489.778  Potential liability of transferor and agent to transferee; options of transferee upon disclosure; rights and remedies additional.

      1.  A transferor or his or her agent, or both, who violates any provision of NRS 489.776 may be held liable to the transferee in any action at law or in equity.

      2.  An agent of a transferee who has actual knowledge of any information required to be disclosed pursuant to NRS 489.776 may be held liable to the transferee in any action at law or in equity if the agent fails to disclose that information to the transferee.

      3.  If a transferor makes a disclosure pursuant to NRS 489.776, the transferee may:

      (a) Rescind the agreement to purchase, lease or take possession of the manufactured home, mobile home, manufactured building, commercial coach or factory-built housing;

      (b) Make the agreement to purchase, lease or take possession of the manufactured home, mobile home, manufactured building, commercial coach or factory-built housing contingent upon the repair of any damage to the manufactured home, mobile home, manufactured building, commercial coach or factory-built housing that has been caused by the manufacturing of any material, compound, mixture or preparation which contains any quantity of methamphetamine; or

      (c) Accept the manufactured home, mobile home, manufactured building, commercial coach or factory-built housing with the damage as disclosed by the transferor without further recourse.

      4.  The rights and remedies provided by this section are in addition to any other rights or remedies that may exist at law or in equity.

      (Added to NRS by 2003, 1340; A 2009, 1925)

      NRS 489.780  Grounds for disciplinary action against licensed dealer or salesperson.  The failure of a licensed dealer or salesperson to make the disclosure required pursuant to NRS 489.776 constitutes grounds for disciplinary action pursuant to NRS 489.381.

      (Added to NRS by 2003, 1341; A 2005, 1641)