In a cooperative, unless the declaration provides that the interest of a unit’s owner in a unit and its allocated interests is real estate for all purposes, that interest is personal property.
NRS 116.1105
Categorization of property in certain common-interest communities
Known as the Uniform Common-Interest Ownership Act
The act spans §§ 116–116 (235 sections).
Applied in 2 court decisions — leading case Sun City Summerlin Community Ass'n v. State Ex Rel. Department of Taxation (1997)
Most recently applied in First Main Street Corp. v. Board of Assessors (March 2000)
(Added to NRS by 1991, 539; A 2005, 1231)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.