Title 54

NRS 645.0045 “Agency” defined. 1. “Agency” means a relationship between a principal and an agent arising out of a brokerage agreement or property management agreement whereby the agent is engaged to do certain acts on behalf of the principal in dealings with a third party. 2. The…

NRS 645.005 “Brokerage agreement” defined. “Brokerage agreement” means a written contract between a client and a broker in which the broker agrees to accept valuable consideration from the client or another person for assisting, soliciting or negotiating the sale, purchase, optio…

NRS 645.007 “Business” defined. “Business” means the tangible assets and goodwill of an existing enterprise. (Added to NRS by 1985, 1260)

NRS 645.0075 “Business broker” defined. “Business broker” means a person who, while acting for another and for compensation or with the intention or expectation of receiving compensation: 1. Sells, exchanges, options, purchases, rents or leases a business that is sold, exchanged,…

NRS 645.009 “Client” defined. “Client” means a person who has entered into a brokerage agreement with a broker or a property management agreement with a broker. (Added to NRS by 1995, 2072; A 2003, 932)

NRS 645.010 “Commission” defined. As used in this chapter, “Commission” means the Real Estate Commission. [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A 1963, 663; 1981, 1605)

NRS 645.013 “Designated property manager” defined. “Designated property manager” means a person who has the qualifications required by NRS 645.6055 to be a designated property manager and who is appointed as the designated property manager for an office pursuant to NRS 645.6055. …

NRS 645.015 “Director” defined. As used in this chapter, “Director” means the Director of the Department of Business and Industry. (Added to NRS by 1963, 663; A 1993, 1891)

NRS 645.018 “Owner-developer” defined. As used in this chapter, “owner-developer” means a person who owns five or more lots within a recorded subdivision, shown on an approved parcel map, or the parceling of which has been approved by the county, on each of which there is a singl…

NRS 645.019 “Property management” defined. “Property management” means the physical, administrative or financial maintenance and management of real property, or the supervision of such activities for a fee, commission or other compensation or valuable consideration, pursuant to a…

NRS 645.0192 “Property management agreement” defined. “Property management agreement” means a written contract between a client and a broker in which the broker agrees to accept valuable consideration from the client or another person for providing property management for the cli…

NRS 645.0195 “Property manager” defined. “Property manager” means a person engaged in property management who, as an employee or independent contractor, is associated with a licensed real estate broker, whether or not for compensation. (Added to NRS by 1997, 954)

NRS 645.020 “Real estate” defined. As used in this chapter, “real estate” means every interest or estate in real property including but not limited to freeholds, leaseholds and interests in condominiums, town houses or planned unit developments, whether corporeal or incorporeal, …

NRS 645.030 “Real estate broker” defined. 1. “Real estate broker” means a person who, for another and for compensation or with the intention or expectation of receiving compensation: (a) Sells, exchanges, options, purchases, rents or leases, or negotiates or offers, attempts or a…

NRS 645.035 “Real estate broker-salesperson” defined. 1. Within the meaning of this chapter, a “real estate broker-salesperson” is any person who holds a real estate broker’s license, or who has passed the real estate broker’s examination, but who, as an employee or as an indepen…

NRS 645.037 “Real Estate Division” and “Division” defined. As used in this chapter, “Real Estate Division” and “Division” mean the Real Estate Division of the Department of Business and Industry. (Added to NRS by 1963, 663; A 1973, 1098; 1993, 1891)

NRS 645.040 “Real estate salesperson” defined. Within the meaning of this chapter, a “real estate salesperson” is any person who, as an employee or as an independent contractor, is associated with a licensed real estate broker or registered owner-developer to do or to deal in any…

NRS 645.042 “Used manufactured home” or “used mobile home” defined. “Used manufactured home” or “used mobile home” means a manufactured home or mobile home, respectively, which has been: 1. Sold, rented or leased, and which was occupied before or after the sale, rental or lease; …

NRS 645.044 Use of terms “salesman,” “saleswoman” and “salesperson” authorized. 1. A person licensed as a real estate salesperson may use the term “real estate salesman,” “real estate saleswoman” or “real estate salesperson” in the course of doing business. 2. A person licensed a…

NRS 645.0445 Applicability of chapter. 1. The provisions of this chapter do not apply to, and the terms “real estate broker” and “real estate salesperson” do not include, any: (a) Owner or lessor of property, or any regular employee of such a person, who performs any of the acts …

NRS 645.045 Administration by Real Estate Division. The provisions of this chapter shall be administered by the Real Estate Division, subject to administrative supervision by the Director. (Added to NRS by 1963, 663)

NRS 645.050 Real Estate Commission: Creation; number and appointment of members; powers and duties; regulations; service of process. 1. The Real Estate Commission is hereby created. The Commission consists of five members appointed by the Governor. 2. The Commission shall act in …

NRS 645.060 Real Estate Commission: Limitation on consecutive service by member. Members are eligible for reappointment, but shall not serve for a period greater than 6 years consecutively, after which time they are not eligible for appointment or reappointment until 3 years have…

NRS 645.070 Real Estate Commission: Oaths of members. Each member of the Commission shall, before entering upon the duties of his or her office: 1. Take the constitutional oath of office; and 2. In addition, make oath that the member is legally qualified under the provisions of t…

NRS 645.090 Real Estate Commission: Qualifications of members. Each member of the Commission must: 1. Be a citizen of the United States. 2. Have been a resident of the State of Nevada for not less than 5 years. 3. Have been actively engaged in business as: (a) A real estate broke…

NRS 645.100 Real Estate Commission: Residency of members. 1. Of the five members appointed to the Commission pursuant to NRS 645.050: (a) Three members must reside in or have a principal place of business located in Clark County; (b) One member must reside in or have a principal …

NRS 645.110 Real Estate Commission: Officers. The Commission, at the first meeting of each fiscal year, shall elect a President, a Vice President and a Secretary to serve for the ensuing year. [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A 1963, 161, 663; 1981, 1606)

NRS 645.120 Administrator: Qualifications; restrictions. The Administrator shall: 1. Possess a broad knowledge of generally accepted real estate practice and be reasonably well informed on laws governing real estate agency contracts. 2. Not be interested in any real estate firm o…

NRS 645.130 Employees, legal counsel, investigators and other professional consultants of Real Estate Division; restrictions. 1. The Real Estate Division may employ: (a) Legal counsel, investigators and other professional consultants without regard to the provisions of chapter 28…

NRS 645.140 Deposit and use of money received by Division; salary of members; per diem allowance and travel expenses of members and employees of Commission. 1. Except as otherwise provided in this section and NRS 645.142, all fees, penalties and charges received by the Division p…

NRS 645.142 Technology Account for Chapter 645 of NRS. 1. The Technology Account for Chapter 645 of NRS is hereby created in the State General Fund. The Administrator shall administer the Account. 2. The interest and income earned on the money in the Account, after deducting any …

NRS 645.145 Real Estate Commission: Fiscal year. The Commission shall operate on the basis of a fiscal year commencing on July 1 and terminating on June 30. (Added to NRS by 1963, 161)

NRS 645.150 Real Estate Commission: Meetings. 1. The Commission may hold at least two regular meetings annually, one of which must be held in the southern part of the State, and one of which must be held in the northern part of the State, at such place or places as the Commission…

NRS 645.160 Real Estate Commission: Quorum; effect of vacancy; act of majority. 1. A majority of the Commission shall constitute a quorum for the transaction of business, for the performance of any duty, or for the exercise of any power or authority of the Commission. 2. A vacanc…

NRS 645.170 Real Estate Division: Principal and branch offices. 1. The Director shall designate the location of the principal office of the Real Estate Division. The Administrator shall conduct business primarily in the principal office of the Real Estate Division. 2. If the prin…

NRS 645.180 Real Estate Division: Seal; general provisions governing public inspection and confidentiality of records; admissibility of certified copies of records as evidence. 1. The Division shall adopt a seal by which it shall authenticate its proceedings. 2. Except as otherwi…

NRS 645.190 Powers of Real Estate Division; regulations of Commission or Administrator; publication of manual or guide. 1. The Division may do all things necessary and convenient for carrying into effect the provisions of this chapter. 2. The Commission or the Administrator, with…

NRS 645.191 Authority for Real Estate Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions. 1. The Administrator may adopt regulations which establish procedures for the Division to conduct business electronically pursuant to titl…

NRS 645.193 Real Estate Division required to prepare and distribute forms setting forth certain duties owed by licensees, property managers and brokers when acting for parties to real estate transaction or property management agreement. The Division shall prepare and distribute t…

NRS 645.194 Real Estate Division required to prepare booklet concerning certain disclosures required in sale of residential property. 1. The Division shall prepare a booklet that provides relevant information concerning the disclosures that are required by federal, state and loca…

NRS 645.195 Inspection of records of broker and owner-developer by Real Estate Division; regulations. 1. The Division shall regularly inspect the transaction files, trust records and pertinent real estate business accounts of all real estate brokers and owner-developers to ensure…

NRS 645.200 Attorney General: Opinions and action as attorney. 1. The Attorney General shall render to the Division opinions upon all questions of law relating to the construction or interpretation of this chapter, or arising in the administration thereof, that may be submitted t…

NRS 645.210 Injunctions. 1. Whenever the Real Estate Division believes from evidence satisfactory to it that any person has violated or is about to violate any of the provisions of this chapter, or any order, license, permit, decision, demand or requirement, or any part or provis…

NRS 645.215 Investigation by Real Estate Division of certain transactions relating to unimproved land or subdivision; injunction for fraud, deceit or false advertising. 1. If the Real Estate Division has reason to believe that fraud, deceit or false advertising is being, has been…

NRS 645.230 Unlawful to engage in certain conduct without license or permit or without complying with certain provisions of chapter; power of Real Estate Division to file complaint with court and assist in prosecution of violation; prosecution by district attorney or Attorney Gen…

NRS 645.235 Administrative fine for engaging in certain conduct without license, permit, certificate, registration or authorization; procedure for imposition of fine; judicial review; exceptions. 1. In addition to any other remedy or penalty, the Commission may impose an administ…