Nevada § 119A.470 Conveyance of project to trustee before close of escrow for first sale

Nevada Statutes

§ 119A.470 — Conveyance of project to trustee before close of escrow for first sale

Nevada § 119A.470

Title 10PROPERTY RIGHTS AND TRANSACTIONS

Ch. 119ATime

SALE OF TIME SHARES

This text of Nevada § 119A.470 (Conveyance of project to trustee before close of escrow for first sale) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 119A.470 (2026).

Text

1. If title to a project is conveyed to a trustee pursuant to subsection 3 of NRS 119A.430 , before escrow closes for the sale of the first time share, the developer must provide the Administrator with satisfactory evidence that:

(a)Title to the project has been conveyed to the trustee.

(b)All proceeds received by the developer from the sales of time shares are being delivered to the trustee and deposited in a fund which has been established to provide for the payment of any taxes, costs of insurance or the discharge of any lien recorded against the project. 2. The trustee shall pay the charges against the trust in the following order:

(a)Trustee’s fees and costs.

(b)Payment of taxes.

(c)Payments due any holder of a lien recorded against the project.

(d)Any other payments authorized

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1. If title to a project is conveyed to a trustee pursuant to subsection 3 of NRS 119A.430 , before escrow closes for the sale of the first time share, the developer must provide the Administrator with satisfactory evidence that:
(a) Title to the project has been conveyed to the trustee.
(b) All proceeds received by the developer from the sales of time shares are being delivered to the trustee and deposited in a fund which has been established to provide for the payment of any taxes, costs of insurance or the discharge of any lien recorded against the project.
2. The trustee shall pay the charges against the trust in the following order:
(a) Trustee’s fees and costs.
(b) Payment of taxes.
(c) Payments due any holder of a lien recorded against the project.
(d) Any other payments authorized by the document creating the trust.
3. The Administrator may inspect the records relating to the trust at any reasonable time.