Nevada Revised Statutes 116.12075 – Applicability to nonresidential condominiums
1. The provisions of this chapter do not apply to a nonresidential condominium except to the extent that the declaration for the nonresidential condominium provides that:
Terms Used In Nevada Revised Statutes 116.12075
- Contract: A legal written agreement that becomes binding when signed.
- 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
(a) This entire chapter applies to the condominium;
(b) Only the provisions of NRS 116.001 to 116.2124, inclusive, and 116.3116 to 116.31168, inclusive, apply to the condominium; or
(c) Only the provisions of NRS 116.3116 to 116.31168, inclusive, apply to the condominium.
2. If this entire chapter applies to a nonresidential condominium, the declaration may also require, subject to NRS 116.1112, that:
(a) Notwithstanding NRS 116.3105, any management, maintenance operations or employment contract, lease of recreational or parking areas or facilities and any other contract or lease between the association and a declarant or an affiliate of a declarant continues in force after the declarant turns over control of the association; and
(b) Notwithstanding NRS 116.1104 and subsection 3 of NRS 116.311, purchasers of units must execute proxies, powers of attorney or similar devices in favor of the declarant regarding particular matters enumerated in those instruments.