Nevada guide
Nevada condo document review
Nevada condo document review centers on the NRS 116.4109 resale package — a more prescriptive disclosure package than most states require — combined with Nevada's distinctive five-day buyer cancellation right. The package is binding on the association for the amounts disclosed, the preparation fee is capped, and the seller's failure to deliver the cancellation notice in the purchase offer is itself a statutory violation.
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Understanding what the package must contain (and what it conspicuously does not) is the foundation of a Nevada review.
What NRS 116.4109 actually requires
The resale package must include: declaration (CC&Rs), bylaws, house rules, the NRS 116.41095 disclosure statement, the current operating budget and year-to-date financials, the reserve summary, a statement of current and outstanding assessments against the unit, all transfer fees and anticipated charges, any unsatisfied judgments or pending legal actions against the association, and notice of the buyer's five-day cancellation right. Preparation fees are capped at $185 with an optional $100 expedite charge. The package binds the association for the assessment figures disclosed.
Five-day cancellation right
Nevada gives the buyer five calendar days after receiving the resale package to cancel the purchase. The notice of this right must be included in the purchase offer; absence is a statutory violation. The five-day window is the buyer's primary statutory protection — use it. Reviewing the package promptly on delivery means you preserve the option to walk if the documents reveal material concerns.
Reserve study disclosure: summary in, full study on request
NRS 116.31152 mandates a reserve study every five years for associations with more than 20 units in counties of 50,000 or more residents. The resale package must include the reserve summary; the full study must be made available on owner or buyer request. Ask for the full study, not just the summary — the summary often understates the risk picture.
Litigation disclosure: stronger than most states
NRS 116.4109 explicitly requires disclosure of unsatisfied judgments and pending legal actions involving the association. This is broader than what many states require (some only require construction-defect disclosure). Read this section carefully — pending litigation can affect insurance renewability, financing eligibility, and the timing of capital programs.
What the package does not have to include
Not required: the master insurance policy declarations page (only summary of coverages), the full claim history, the most recent engineering or structural inspection reports, the delinquency-rate disclosure, the owner-occupancy ratio, board meeting minutes (only available on owner request under NRS 116.31175), or recent special-assessment discussions that have not been formally approved. Request these explicitly as part of the buyer review.
Nevada legal references
- NRS 116.4109 — Resale package required contents, 5-day cancellation, fee cap
- NRS 116.31152 — Reserve study required every 5 years
- NRS 116.31175 — Owner records inspection rights
- Nevada Real Estate Division — Ombudsman for Common-Interest Communities
Informational only. Not legal advice. Always confirm against current statute and counsel.
Need help applying these Nevada statutes to your specific situation? We can connect you with state-licensed counsel and specialists familiar with this exact regulatory environment.
Find a Nevada specialist →Reviewer's checklist
- Request the NRS 116.4109 resale package and verify the cancellation-right notice is in the purchase offer
- Use the 5-day cancellation window — review the package on delivery, not at closing
- Confirm estoppel preparation fees do not exceed $185 plus $100 expedite (NRS 116.4109(3))
- Request the full reserve study, not just the summary in the package (NRS 116.31152)
- Read the litigation disclosure carefully — Nevada requires disclosure of all unsatisfied judgments and pending actions
- Request the master policy declarations page and exclusions endorsement (not statutorily required)
- Request 18+ months of board minutes for capital-planning and special-assessment discussions
- Ask for the delinquency-rate disclosure and recent year-end financials
- Confirm developer-transition status if the project is recent
- Verify that the package is binding on the association for assessments disclosed
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Related risk areas
Read these next to round out your due diligence
HOA document review
An HOA document review reads the full association document set — declaration or deed restrictions, CC&Rs, bylaws, resale or disclosure certificate, current budget, audited financials, meeting minutes, and any enforcement history — and surfaces the items that actually affect your ownership cost, your usage rights, and your exposure to surprise assessments.
Reserve studies
A reserve study tells you what the association expects to spend on long-term capital repairs and replacements, and whether it is funding those obligations adequately.
Condo Buying Checklist
Buying a condo is not like buying a single-family home.
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Get Your Free Condo Risk Report
Upload condo or HOA documents for a free risk review. We read reserve studies, budgets, meeting minutes, insurance summaries, and assessment exposure — every finding linked to the exact page.
Expert Matching
Need a real estate lawyer or mortgage specialist?
We can connect you with vetted real estate lawyers, mortgage brokers, and insurance brokers familiar with the specifics of condo and HOA transactions.
- HOA lawyer
- Mortgage broker
- Insurance broker