Nevada § 119A.470 - Conveyance of project to trustee before close of escrow for first sale
Full text of Nevada Nevada Revised Statutes § 119A.470 — Conveyance of project to trustee before close of escrow for first sale, with citation guidance and answers to common questions.
§ 119A.470. Conveyance of project to trustee before close of escrow for first sale
1. If title to a project is conveyed to a trustee pursuant to subsection 3 of NRS 119A.430 , before escrow closes for the sale of the first time share, the developer must provide
the Administrator with satisfactory evidence that: (a) Title to the project has been conveyed to the trustee. (b) All proceeds received by the developer from the sales of time shares are being
delivered to the trustee and deposited in a fund which has been established to provide
for the payment of any taxes, costs of insurance or the discharge of any lien recorded
against the project. 2. The trustee shall pay the charges against the trust in the following order: (a) Trustee's fees and costs. (b) Payment of taxes. (c) Payments due any holder of a lien recorded against the project. (d) Any other payments authorized by the document creating the trust. 3. The Administrator may inspect the records relating to the trust at any reasonable
time.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 119A.470
What does Nevada Revised Statutes § 119A.470 cover?
Section 119A.470 ("Conveyance of project to trustee before close of escrow for first sale") 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.470?
A common citation format is "Nevada Revised Statutes § 119A.470" (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.470 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.