“Purchaser” defined
Known as the Uniform Common-Interest Ownership Act
The act spans §§ 116–116 (235 sections).
(Added to NRS by 1991, 538; A 2011, 2416)—(Substituted in revision for NRS 116.110375)
“Purchaser” means a person, other than a declarant or a dealer, who by means of a voluntary transfer acquires a legal or equitable interest in a unit other than:
1. A leasehold interest, including options to renew, of less than 20 years; or
2. As security for an obligation.
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.