“Unit’s owner” means a declarant or other person who owns a unit, or a lessee of a unit in a leasehold common-interest community whose lease expires simultaneously with any lease the expiration or termination of which will remove the unit from the common-interest community, but does not include a person having an interest in a unit solely as security for an obligation. In a condominium or planned community, the declarant is the owner of any unit created by the declaration until that unit is conveyed to another person. In a cooperative, the declarant is treated as the owner of any unit to which allocated interests have been allocated until that unit has been conveyed to another person.
NRS 116.095
“Unit’s owner” defined
Known as the Uniform Common-Interest Ownership Act
The act spans §§ 116–116 (235 sections).
Applied in 1 court decision — leading case HIGH NOON AT ARLINGTON RANCH HOMEOWNERS ASS'N VS. DIST. CT. (D.R. HORTON, INC.) (2017)
Most recently applied in HIGH NOON AT ARLINGTON RANCH HOMEOWNERS ASS'N VS. DIST. CT. (D.R. HORTON, INC.) (September 2017)
(Added to NRS by 1991, 539; A 2011, 2417)—(Substituted in revision for NRS 116.110393)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.