Title 111 · NRS Chapter 111
Private transfer fee obligations prohibited.
Citation: NRS 111.865
Section: 111.111.865
NRS
111.865
Private transfer fee obligations prohibited.
1. Except as otherwise provided in NRS 111.870 :
(a) A person shall not, on or after May 20, 2011, create or record a private transfer fee obligation in this State; and
(b) A private transfer fee obligation that is created or recorded in this State on or after May 20, 2011, is void and unenforceable.
2. The provisions of subsection 1 do not validate or make enforceable any private transfer fee obligation that was created or recorded in this State before May 20, 2011.
(Added to NRS by 2011, 318 )