Nevada law · Common-Interest Communities

NRS 116.021

�Common-interest community� defined.

The statutory text

Verbatim from the public record. The law itself is a government work — always confirm the current version on the official source before you rely on it.

�� 1. �Common-interest community� means real estate described in a declaration with respect to which a person, by virtue of the person�s ownership of a unit, is obligated to pay for a share of real estate taxes, insurance premiums, maintenance or improvement of, or services or other expenses related to, common elements, other units or other real estate described in that declaration. �� 2. The term does not include an agreement described in NRS 116.1209 . �� 3. For purposes of this section, �ownership of a unit� does not include holding a leasehold interest of less than 20 years in a unit, including options to renew.

Official source

NRS 116.021

The statutory text

Official source

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