Nevada § 119.120 - Exemptions: Single purchase; large lots; contractors; court orders; governmental agencies

§ 119.120. Exemptions: Single purchase; large lots; contractors; court orders; governmental agencies

The provisions of this chapter do not apply, unless the method of disposition is adopted

to evade those provisions or the provisions of the Interstate Land Sales Full Disclosure

Act, 15 U.S.C. §§ 1701 to 1720 , inclusive, upon notification to the Division by the person electing to be exempt

under this section, to the making of any offer or disposition of any subdivision or

lot, parcel, unit or interest therein: 1. By a purchaser of any lot, parcel, interest or unit of a subdivision for his or

her own account in a single or isolated transaction. 2. If: (a) Each lot, parcel, interest or unit being offered or disposed of in any subdivision

is more than 80 acres in size; (b) The purchaser or his or her agent inspects the land before purchasing it; and (c) The developer signs an affirmation which states that the purchaser or his or her

agent has inspected the land before purchasing it, and the affirmation is made a matter

of record in accordance with regulations of the Division. For purposes of this subsection, the size of any undivided interest being offered

or disposed of in any subdivision must be computed by dividing the number of the undivided

interests into the area of the subdivision, exclusive of common or reserved areas,

roadways or easements. 3. To any person who is licensed in this state to engage and is engaged in the business

of the construction of residential, commercial or industrial buildings located in

this state for disposition. 4. By any person who owns the land and is licensed in the State of Nevada to construct

residential buildings if the land is located in this state and is to include a residential

building when disposition is completed. 5. Pursuant to the order of any court of this state. 6. By any government or governmental agency.