Senate Bill No. 121–Committee on Judiciary

(On Behalf of City of Las Vegas)

February 4, 1999

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Referred to Committee on Judiciary

 

SUMMARY—Provides additional notice of future uses surrounding residential developments to certain purchasers of residences. (BDR 10-610)

FISCAL NOTE: Effect on Local Government: No.

Effect on the State or on Industrial Insurance: No.

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

 

AN ACT relating to real estate; providing additional notice of future uses surrounding residential developments to certain purchasers of residences; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

1-1 Section 1. NRS 113.070 is hereby amended to read as follows:

1-2 113.070 1. Except as otherwise provided in subsection 3, in a county

1-3 whose population is 400,000 or more, a seller may not sign a sales

1-4 agreement with the initial purchaser of a residence unless the seller, at least

1-5 24 hours before the time of the signing, provides the initial purchaser with a

1-6 disclosure document that contains:

1-7 (a) A copy of the most recent gaming enterprise district map that has

1-8 been made available for public inspection pursuant to NRS 463.309 by the

1-9 city or town in which the residence is located or, if the residence is not

1-10 located in a city or town, by the county in which the residence is located;

1-11 and

1-12 (b) The location of the gaming enterprise district that is nearest to the

1-13 residence, regardless of the jurisdiction in which the nearest gaming

1-14 enterprise district is located.

1-15 The seller shall retain a copy of the disclosure document which has been

1-16 signed by the initial purchaser acknowledging the time and date of receipt

1-17 by the initial purchaser of the original document.

2-1 2. The information contained in the disclosure document required by

2-2 subsection 1 must:

2-3 (a) Be updated no less than once every 4 months;

2-4 (b) Advise the initial purchaser that gaming enterprise districts are

2-5 subject to change; and

2-6 (c) Provide the initial purchaser with instructions on how to obtain more

2-7 current information.

2-8 3. The initial purchaser of a residence may waive the 24-hour period

2-9 required by subsection 1 if the seller provides the initial purchaser with the

2-10 information required by subsections 1 and 2 and the initial purchaser signs

2-11 a written waiver. The seller shall retain a copy of the written waiver which

2-12 has been signed by the initial purchaser acknowledging the time and date of

2-13 receipt by the initial purchaser of the original document.

2-14 4. Before the initial purchaser of a residence signs a sales agreement [,]

2-15 or opens escrow, whichever occurs earlier, the seller shall, by separate

2-16 written document, disclose to [him] the initial purchaser the zoning

2-17 designations and the designations in the master plan regarding land use [,]

2-18 adopted pursuant to chapter 278 of NRS for [the adjoining parcels of land.]

2-19 each adjoining parcel of land and each parcel of land within a 500-foot

2-20 radius of the residence. If the residence is located within a subdivision, the

2-21 disclosure must be made regarding [all parcels] each parcel of land

2-22 adjoining the unit of the subdivision in which the residence is located [.]

2-23 and each parcel of land within a 500-foot radius of the residence. If the

2-24 residence is located on land divided by a parcel map and not located within

2-25 a subdivision, the disclosure must be made regarding [all parcels] each

2-26 parcel of land adjoining the parcel map [.] and each parcel of land within

2-27 a 500-foot radius of the residence. Such a disclosure must be made

2-28 regardless of whether the adjoining parcels are owned by the seller. The

2-29 seller shall retain a copy of the disclosure document which has been signed

2-30 by the initial purchaser acknowledging the date of receipt by the initial

2-31 purchaser of the original document.

2-32 5. The information contained in the disclosure document required by

2-33 subsection 4 must:

2-34 (a) Be updated no less than once every 6 months, if the information is

2-35 available from the local government;

2-36 (b) Advise the initial purchaser that the master plan is for the general,

2-37 comprehensive and long-term development of land in the area and that

2-38 the designations in the master plan regarding land use provide the most

2-39 probable indication of future development which may occur on the

2-40 surrounding properties;

2-41 (c) Include a map of the surrounding property that lists the

2-42 designations in the master plan regarding land use and a table that

2-43 shows every allowable use within those designations;

3-1 (d) Advise the initial purchaser that the master plan and zoning

3-2 ordinances and regulations adopted pursuant to the master plan are subject

3-3 to change; and

3-4 [(c)] (e) Provide the initial purchaser with instructions on how to obtain

3-5 more current information.

3-6 6. As used in this section, "seller" means a person who sells or

3-7 attempts to sell any land or tract of land in this state which is divided or

3-8 proposed to be divided over any period into two or more lots, parcels, units

3-9 or interests, including, but not limited to, undivided interests, which are

3-10 offered, known, designated or advertised as a common unit by a common

3-11 name or as a part of a common promotional plan of advertising and sale.

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