Nevada § 119A.480 Requirements if developer holds leasehold interest

Nevada Statutes

§ 119A.480 — Requirements if developer holds leasehold interest

Nevada § 119A.480

Title 10PROPERTY RIGHTS AND TRANSACTIONS

Ch. 119ATime

RIGHTS OF OWNERS

This text of Nevada § 119A.480 (Requirements if developer holds leasehold interest) 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.480 (2026).

Text

1. If the interest of the developer is a leasehold interest, the lease, unless otherwise determined by the Administrator, must provide that:

(a)The lessee must give notice of termination of the lease for any default by the lessor to the association.

(b)The lessor, upon any default of the lessee including bankruptcy of the lessee, shall enter into a new lease with the association upon the same terms and conditions as the lease with the developer. 2. The Administrator may require the developer to execute a bond or other type of security for the payment of the rental obligation.

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1. If the interest of the developer is a leasehold interest, the lease, unless otherwise determined by the Administrator, must provide that:
(a) The lessee must give notice of termination of the lease for any default by the lessor to the association.
(b) The lessor, upon any default of the lessee including bankruptcy of the lessee, shall enter into a new lease with the association upon the same terms and conditions as the lease with the developer.
2. The Administrator may require the developer to execute a bond or other type of security for the payment of the rental obligation.