SUMMARY--Requires developer of subdivision to disclose to purchaser location of all rights of way and easements for transmission lines of public utilities that supply electricity. (BDR 10-1103)
FISCAL NOTE: Effect on Local Government: Yes.
Effect on the State or on Industrial Insurance: No.
EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.
AN ACT relating to the sale of subdivided land; requiring a developer to disclose to a purchaser the location in the subdivision and on all contiguous land of all rights of way and easements for transmission lines of public utilities that supply electricity; providing a penalty; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1 Chapter 119 of NRS is hereby amended by adding thereto a new section to read as follows:
It is unlawful for a developer to sell any lot, parcel, unit or interest in a subdivision without disclosing to the purchaser in writing, before the purchaser signs any binding agreement, the location in the subdivision, and on all land contiguous thereto, of all rights of way and easements for transmission lines of public utilities that supply electricity.
Sec. 2 NRS 119.121 is hereby amended to read as follows:
119.121Unless the method of disposition is adopted to evade the provisions of this chapter or of the provisions of the Interstate Land Sales Full Disclosure Act, 15 U.S.C. §§ 1701 to 1720, inclusive, if each lot, parcel, interest or unit being offered or disposed of in any subdivision is at least one-sixteenth of a section as described by a survey of the government land office, but not less than 35 acres, or 40 acres in area, including roadways and easements, but not more than 80 acres in size, and the developer:
1. Completes an application in such form and containing such reasonable information as the division may require;
2. Pays the fees prescribed in this chapter for a permit for partial registration;
3. Requires the purchaser or his agent to inspect the land before purchasing it; and
4. Signs an affirmation which states that the purchaser or his agent has inspected the land before purchasing it and makes that affirmation a matter of record pursuant to the regulations of the division,
the developer need only comply with the provisions of NRS 119.183, 119.184 and 119.230 [.] and section 1 of this act.
Sec. 3. The amendatory provisions of this act do not apply to offenses that are committed before October 1, 1997.
Sec. 4. The provisions of subsection 1 of NRS 354.599 do not apply to any additional expenses of a local government that are related to the provisions of this act.