Title 54

NRS 645.8491 Administrator subrogated to rights of judgment creditor; deposit of money recovered. When the Administrator has paid from the Fund any money to the judgment creditor, the Administrator is subrogated to all other rights of the judgment creditor to the extent of the am…

NRS 645.8492 Waiver of rights. The failure of a person to comply with any of the provisions of NRS 645.841 to 645.8494, inclusive, shall constitute a waiver of any rights hereunder. (Added to NRS by 1967, 1045; A 1973, 1765)

NRS 645.8494 Disciplinary action against licensee not restricted. Nothing contained in NRS 645.841 to 645.8494, inclusive, limits the authority of the Commission to take disciplinary action against a licensee for a violation for any of the provisions of this chapter, or of the ru…

NRS 645.863 Permit to engage in business as business broker: Persons eligible; requirements; continuing education; expiration; renewal; regulations. 1. A person who is licensed as a real estate broker, real estate broker-salesperson or real estate salesperson pursuant to this cha…

NRS 645.865 Permit to engage in business as business broker: Requirements for certain organizations. 1. To engage in business as a business broker in this State: (a) A partnership shall designate one of its members; (b) A corporation shall designate one of its officers or employe…

NRS 645.867 Designated business brokers: Requirements; qualifications; duties. 1. If a real estate broker does not hold a permit to engage in business as a business broker but intends to have the activities of a business broker conducted at an office, the real estate broker must:…

NRS 645.8701 Definitions. As used in NRS 645.8701 to 645.8811, inclusive, unless the context otherwise requires, the words and terms defined in NRS 645.8705 to 645.8741, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1999, 1174)

NRS 645.8705 “Brokerage agreement” defined. “Brokerage agreement” means a written contract between an owner and a real estate broker in which the owner agrees to pay a commission to the real estate broker for services provided by the broker relating to the disposition of commerci…

NRS 645.8711 “Commercial real estate” defined. “Commercial real estate” means any real estate located in this State. The term does not include: 1. Improved real estate that consists of not more than four residential units; 2. Unimproved real estate for which not more than four re…

NRS 645.8715 “Commission” defined. “Commission” means any fee or other compensation agreed upon by a real estate broker and an owner specified in a brokerage agreement. (Added to NRS by 1999, 1175)

NRS 645.8721 “Disposition” defined. “Disposition” means a voluntary conveyance or other transfer of title or any interest of an owner in any commercial real estate specified in a brokerage agreement. (Added to NRS by 1999, 1175)

NRS 645.8725 “Escrow” defined. “Escrow” has the meaning ascribed to it in NRS 645A.010. (Added to NRS by 1999, 1175; A 2011, 3595; 2015, 2790)

NRS 645.8731 “Escrow agent” defined. “Escrow agent” has the meaning ascribed to it in NRS 645A.010. (Added to NRS by 1999, 1175; A 2011, 3595; 2015, 2790)

NRS 645.8735 “Owner” defined. “Owner” means a person who holds legal title to or any interest in any commercial real estate that is described in a brokerage agreement, including, without limitation, any assignee in interest and any agent of a person. The term does not include a m…

NRS 645.8741 “Owner’s net proceeds” defined. “Owner’s net proceeds” means the gross receipts to which an owner is entitled upon the disposition of any commercial real estate specified in a brokerage agreement. The term does not include: 1. Any money that is required to pay an enc…

NRS 645.8761 Broker has claim upon owner’s net proceeds for earned commissions; conditions and limitations on enforcement of claim; waiver; inapplicability to third-party claims; obligation to close escrow unaffected by claim. 1. A real estate broker has a claim upon the owner’s …

NRS 645.8765 Requirements for broker to enforce claim: Written notice to owner and escrow agent; effect of failure to provide notice; exceptions. 1. Except as otherwise provided in subsection 3, if a real estate broker wishes to enforce a claim pursuant to the provisions of NRS 6…

NRS 645.8771 Requirements for broker to enforce claim: Information required in notice; verification by oath; acknowledgment. 1. A notice of claim specified in NRS 645.8765 must include: (a) The name of the owner of the commercial real estate; (b) The name of the person who execut…

NRS 645.8775 Duty of owner to confirm or deny claim; effect of confirming claim; effect of denying claim or failing to respond; recording of claim by broker. 1. If an owner is served with a notice of a claim pursuant to NRS 645.8765, the owner shall, within 5 days after service o…

NRS 645.8781 Duties of escrow agent upon notice of claim. 1. Except as otherwise provided in this subsection, if: (a) An escrow agent receives a notice of a claim pursuant to NRS 645.8765; (b) A notice of claim is recorded pursuant to NRS 645.8775; or (c) An escrow agent has actu…

NRS 645.8785 Deposit of proceeds with district court; discharge of escrow agent from further liability concerning proceeds. 1. If: (a) A notice of a claim is recorded pursuant to NRS 645.8775; (b) An escrow agent has reserved an owner’s net proceeds or any portion of an owner’s n…

NRS 645.8791 Civil action concerning claim: Issuance of order to broker to appear and show cause; effect of failure to appear; hearings; release of proceeds; frivolous claims; compensatory damages; award of costs and attorney’s fees to prevailing party. 1. If a claim is recorded …

NRS 645.8795 Priority of recorded claim. 1. Except as otherwise provided in subsection 2, a claim that is recorded pursuant to the provisions of NRS 645.8775 has priority over any other encumbrance, claim or lien, if the claim of the real estate broker is recorded before the encu…

NRS 645.8801 Release of recorded claim. If a real estate broker records a claim pursuant to the provisions of NRS 645.8775 and that claim is paid or otherwise satisfied pursuant to that section or NRS 645.8785, the real estate broker shall, within 3 days after the claim is paid o…

NRS 645.8805 Service of notice. Any notice that is required to be served pursuant to the provisions of NRS 645.8701 to 645.8811, inclusive, must be served in the manner provided in NRS 108.227. (Added to NRS by 1999, 1179)

NRS 645.8811 Escrow agents: Immunity; collection of fees for services. An escrow agent: 1. Is not liable in any civil action for any action taken to comply with the provisions of NRS 645.8701 to 645.8811, inclusive. 2. May charge and collect a fee from an owner or real estate bro…

NRS 645.990 Unlawful acts; penalties. 1. A person who: (a) Obtains or attempts to obtain a license pursuant to this chapter by means of intentional misrepresentation, deceit or fraud; or (b) Sells or attempts to sell in this State any interest in real property by means of intenti…

NRS 645.993 Unlawful to file documents that are false or contain willful, material misstatement of fact; penalty. 1. It is unlawful for any person to file with the Administrator, the Division or the Commission any notice, statement, complaint or other document required under the …