“Developmental rights” defined.

NRS 116B.085 “Developmental rights” defined. “Developmental rights” means any right or combination of rights reserved by a declarant in the declaration to: 1. Add real estate to a condominium hotel; 2. Create residential units, common elements, limited common elements, shared components or a hotel unit within a condominium hotel; 3. Subdivide residential units or convert residential units into common elements, shared components or part of a hotel unit; 4. Subdivide a hotel unit or convert a hotel unit into residential units, common elements or shared components; 5. Subdivide shared components or convert shared components into residential units, common elements or part of a hotel unit; 6. Subdivide or convert common elements into residential units, shared components or part of a hotel unit; or 7. Withdraw real estate from a condominium hotel. (Added to NRS by 2007, 2195; A 2015, 1217)