NRS 116.039

“Developmental rights” defined

Known as the Uniform Common-Interest Ownership Act

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

(Added to NRS by 1991, 537)—(Substituted in revision for NRS 116.11034)

“Developmental rights” means any right or combination of rights reserved by a declarant in the declaration to:

1. Add real estate to a common-interest community;

2. Create units, common elements or limited common elements within a common-interest community;

3. Subdivide units or convert units into common elements; or

4. Withdraw real estate from a common-interest community.

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