Nevada Revised Statutes 116.055 – ‘Leasehold common-interest community’ defined
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‘Leasehold common-interest community’ means a common-interest community in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the common-interest community or reduce its size.
Terms Used In Nevada Revised Statutes 116.055
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC