NRS 119A.4777
Requirements for agreement for resale of time share

  • time-share resale broker to provide copy of agreement to owner.

1.

An agreement for the resale of a time share entered into by an owner of that time share and a time-share resale broker who lists or offers to resell that time share must:

(a)

Be in writing;

(b)

Contain a provision in not less than 12-point boldface type that the owner may cancel, by written notice, the agreement with the time-share resale broker until midnight of the fifth calendar day after the date of execution of the agreement; and

(c)

Contain a written disclosure that sets forth:

(1)

Whether any person other than the purchaser may use the time share during the period before the time share is resold;

(2)

Whether any person other than the purchaser may rent the use of the time share during the period before the time share is resold;

(3)

The name of any person who will receive any rents or profits generated from the use of the time share during the period before the time share is resold;

(4)

A detailed description of any relationship between the person who resells the time share and any other person who receives any benefit from the use of the time share; and

(5)

The right to cancel the agreement provided pursuant to paragraph (b).

2.

The time-share resale broker who resells a time share shall provide a fully executed copy of the written agreement described in subsection 1 to the owner on the date that the owner signs the agreement.

3.

The time-share resale broker who resells a time share shall make the disclosures required pursuant to paragraph (c) of subsection 1 before accepting anything of value from the owner.

Source: Section 119A.4777 — Requirements for agreement for resale of time share; time-share resale broker to provide copy of agreement to owner., https://www.­leg.­state.­nv.­us/NRS/NRS-119A.­html#NRS119ASec4777.

Last Updated

Feb. 5, 2021

§ 119A.4777’s source at nv​.us