Nevada § 40.665 Settlement by repurchase; certain offers of settlement deemed reasonable

Nevada Statutes

§ 40.665 — Settlement by repurchase; certain offers of settlement deemed reasonable

Nevada·Title 3 REMEDIES; SPECIAL ACTIONS AND PROCEEDINGS·Ch. 40 Actions· Conditions and Limitations on Actions

In addition to any other method provided for settling a claim pursuant to NRS 40.600 to 40.695, inclusive, a contractor may, pursuant to a written agreement entered into with a claimant, settle a claim by repurchasing the claimant’s residence and the real property upon which it is located. The agreement may include provisions which reimburse the claimant for:

1.The market value of the residence as if no constructional defect existed, except that if a residence is less than 2 years of age and was purchased from the contractor against whom the claim is brought, the market value is the price at which the residence was sold to the claimant;

2.The value of any improvements made to the property by a person other than the contractor;

3.Reasonable attorney’s fees and fees for experts; and

4.An

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In addition to any other method provided for settling a claim pursuant to NRS 40.600 to 40.695, inclusive, a contractor may, pursuant to a written agreement entered into with a claimant, settle a claim by repurchasing the claimant’s residence and the real property upon which it is located. The agreement may include provisions which reimburse the claimant for:
1. The market value of the residence as if no constructional defect existed, except that if a residence is less than 2 years of age and was purchased from the contractor against whom the claim is brought, the market value is the price at which the residence was sold to the claimant;
2. The value of any improvements made to the property by a person other than the contractor;
3. Reasonable attorney’s fees and fees for experts; and
4. Any costs, including costs and expenses for moving and costs, points and fees for loans.
Ê Any offer of settlement made that includes the items listed in this section shall be deemed reasonable for the purposes of subsection 1 of NRS 40.650 .

Nevada § 40.665 (Settlement by repurchase; certain offers of settlement deemed reasonable) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.