NAC598.030. Escrow instructions.

     1. The escrow instructions must prescribe the disposition of the purchaser’s payments upon the close or termination of escrow.

     2. A copy of the completed and signed escrow instructions must be retained by the dealer. The original signed escrow instructions and any amendments thereto must be retained by the escrow agent.

     3. The escrow instructions must include:

     (a) The names, addresses and signatures of the dealer, the purchaser, and the seller, if other than the dealer.

     (b) The name and address of the lienholder, if any, of the mobile home.

     (c) The name, address and telephone number of the escrow agent.

     (d) A description of any payment to be deposited.

     (e) The purchase price of the mobile home.

     (f) A description of the mobile home being sold to the purchaser by the dealer. The description must include:

          (1) The manufacturer’s name;

          (2) The trade name, if any;

          (3) The size of the mobile home; and

          (4) The year in which the mobile home was manufactured.

     (g) The specific address or location where the purchaser will accept delivery of the mobile home.

     (h) The method by which the purchaser will take delivery of the mobile home and the documentation required to evidence that delivery. The instructions must specify which of the following forms of documentation must be used:

          (1) A statement, signed by the purchaser, that delivery has been received; or

          (2) A statement, signed by the dealer, that the mobile home has been delivered to the purchaser or that delivery has been offered to the purchaser in accordance with their agreement and he or she is free to occupy the mobile home to the exclusion of the dealer.

     [Mfd. Housing Div., Escrow Accounts Reg. § 2.6, eff. 12-30-81]