Nevada § 119A.450 - Provision in contract relieving purchaser of obligation upon foreclosure of lien against project; prohibition against sale or pledge of notes or contracts of sale by defaulting developer
Full text of Nevada Nevada Revised Statutes § 119A.450 — Provision in contract relieving purchaser of obligation upon foreclosure of lien against project; prohibition against sale or pledge of notes or contracts of sale by defaulting developer, with citation guidance and answers to common questions.
§ 119A.450. Provision in contract relieving purchaser of obligation upon foreclosure of lien against project; prohibition against sale or pledge of notes or contracts of sale by defaulting developer
1. A contract for the sale of a time share or any other evidence of an obligation
to purchase a time share must provide in 12-point bold type that the purchaser is
relieved of all obligations under the contract if his or her interests are defeated
because of the foreclosure of liens against the project. The provisions of this subsection do not apply to any project which meets any one
of the requirements of subsections 1 to 5, inclusive, of NRS 119A.430 . 2. If a developer or owner is in default on a blanket encumbrance, he or she may not
sell or pledge any of the notes or contracts of sale given in payment of the time
shares purchased from the developer or owner.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 119A.450
What does Nevada Revised Statutes § 119A.450 cover?
Section 119A.450 ("Provision in contract relieving purchaser of obligation upon foreclosure of lien against project; prohibition against sale or pledge of notes or contracts of sale by defaulting developer") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 119A.450?
A common citation format is "Nevada Revised Statutes § 119A.450" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 119A.450 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.