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Nevada Revised Statutes Title 10. Property Rights and Transactions § 119A.4777. Requirements for agreement for resale of time share; time-share resale broker to provide copy of agreement to owner

Current as of January 01, 2025 | Updated by Findlaw Staff

1. An agreement for the resale of a time share entered into by an owner of that time share and a time-share resale broker who lists or offers to resell that time share must:

(a) Be in writing;

(b) Contain a provision in not less than 12-point boldface type that the owner may cancel, by written notice, the agreement with the time-share resale broker until midnight of the fifth calendar day after the date of execution of the agreement; and

(c) Contain a written disclosure that sets forth:

(1) Whether any person other than the purchaser may use the time share during the period before the time share is resold;

(2) Whether any person other than the purchaser may rent the use of the time share during the period before the time share is resold;

(3) The name of any person who will receive any rents or profits generated from the use of the time share during the period before the time share is resold;

(4) A detailed description of any relationship between the person who resells the time share and any other person who receives any benefit from the use of the time share; and

(5) The right to cancel the agreement provided pursuant to paragraph (b).

2. The time-share resale broker who resells a time share shall provide a fully executed copy of the written agreement described in subsection 1 to the owner on the date that the owner signs the agreement.

3. The time-share resale broker who resells a time share shall make the disclosures required pursuant to paragraph (c) of subsection 1 before accepting anything of value from the owner.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 10. Property Rights and Transactions § 119A.4777. Requirements for agreement for resale of time share; time-share resale broker to provide copy of agreement to owner - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-10-property-rights-and-transactions/nv-rev-st-119a-4777/

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