NAC119.215. Property free and clear of all liens.

A developer must submit the following information and documents in order to obtain an exemption under subsection 2 of NRS 119.122 (property free and clear of all liens):

     1. A sworn statement in the form of a claim of exemption signed by the developer, stating that the subdivision is free and clear of all liens, encumbrances and adverse claims and that the lots will remain so until a deed is delivered to the purchaser. The claim of exemption must also include assurances by the developer that each prospective purchaser will:

     (a) Personally inspect the lot he or she intends to purchase;

     (b) Receive a form which he or she must sign that affirms he or she has inspected the lot and has received a copy of any covenants, conditions, restrictions, reservations, easements, taxes and assessments; and

     (c) Receive a deed within 180 days after signing the sales contract.

     2. A statement of covenants, conditions, restrictions, reservations, easements, taxes and assessments.

     3. A recorded plat map.

     4. A copy of the sales contract.

     5. A current preliminary title report or equivalent document.

     6. The names and addresses of any real estate brokers who are licensed in Nevada and who will assist in marketing the property.

     7. The promotional name of the subdivision.

     [Real Estate Div., § 27, eff. 7-16-80]—(NAC A 12-3-84)