Nevada Revised Statutes 119.180 – Sales: Approval of plan and methods required; application by broker and salesperson
No subdivision or lot, parcel or unit in any subdivision may be sold:
Terms Used In Nevada Revised Statutes 119.180
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
1. Until the Division has approved a written plan or the methods proposed to be employed for the procurement of prospective purchasers, the sale to purchasers and the retention of purchasers after sale. The plan or methods must describe with particularity:
(a) The form and content of advertising to be used;
(b) The nature of the offer of gifts or other free benefits to be extended;
(c) The nature of promotional meetings involving any person or act described in this subsection;
(d) The contracts, agreements and other papers to be employed in the sale of the property; and
(e) Such other reasonable details as the Division requires. The written plan, or the methods proposed, may be filed as a part of the application under NRS 119.140.
2. Except through a broker, and before any offering or disposition, pursuant to any license granted under this chapter, the name of the broker must be placed on file with the Division. Only that broker or his or her real estate salesperson may offer or sell the subdivided property or any interest therein. Before a salesperson offers or sells any property or interest, the salesperson’s name must be placed on file with the Division. The broker and salesperson, if any, shall:
(a) Complete an application in such a form and containing such reasonable information as the Division requires.
(b) Pay the fees prescribed in this chapter. A broker and a salesperson may represent one or more developers only after completing an application with respect to each developer in such a form and containing such reasonable information as the Division requires and paying the fees prescribed in this chapter.