Nevada Revised Statutes 116B.060 – ‘Condominium hotel’ defined
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‘Condominium hotel’ means a development in which:
Terms Used In Nevada Revised Statutes 116B.060
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
1. Portions of the real estate are designated for separate ownership;
2. A hotel unit is defined which may contain shared components;
3. A transient rental program may be offered to the residential unit owners; and
4. The remainder of the real estate, which may be limited to airspace or subsurface rights, is designated as common elements and is controlled by an association.