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NRS 116.009

“Allocated interests” defined

Known as the Uniform Common-Interest Ownership Act

The act spans §§ 116–116 (235 sections).

(Added to NRS by 1991, 536; A 2011, 2416)—(Substituted in revision for NRS 116.110313)

“Allocated interests” means the following interests allocated to each unit:

1. In a condominium, the undivided interest in the common elements, the liability for common expenses, and votes in the association;

2. In a cooperative, the liability for common expenses, the ownership interest and votes in the association; and

3. In a planned community, the liability for common expenses and votes in the association.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.