Nevada Revised Statutes 597.020 – Applicability of laws
1. A lease agreement with an option to purchase which complies with the provisions of NRS 597.010 to 597.110, inclusive, is exempt from the provisions of law governing:
Terms Used In Nevada Revised Statutes 597.020
- 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
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) A security interest as defined in NRS 104.1201.
(b) A door-to-door sale as defined in NRS 598.180.
(c) The sale of consumer goods as defined in NRS 104.9102.
2. The provisions of NRS 597.010 to 597.110, inclusive, do not apply to:
(a) A lease agreement with an option to purchase entered into primarily for business, commercial or agricultural purposes.
(b) A lease agreement with an option to purchase made with any governmental agency.
(c) The lease of a safe deposit box.
(d) A lease or bailment of personal property which is incidental to the lease of real property and which does not provide the customer with an option to purchase the leased property.
(e) The lease of a motor vehicle.