1. Where several persons own condominiums in a condominium project, an action may be brought pursuant to NRS 39.010 to 39.490, inclusive, by one or more of such persons for partition thereof by sale of the entire project, as if the owners of all the condominiums in such project were tenants in common in the entire project in the same proportion as their interests in the common areas, but a partition shall be made only upon the showing that:
(a) Three years after damage or destruction to the project which renders a material part thereof unfit for its use prior thereto, the project has not been rebuilt or repaired substantially to its state prior to its damage or destruction; or
(b) Three-fourths or more of the project has been destroyed or substantially damaged, and that condominium owners holding in aggregate more than 50 percent interest in the common areas are opposed to repair or restoration of the project; or
(c) The project has been in existence in excess of 50 years, that it is obsolete and uneconomic, and that condominium owners holding in aggregate more than 50 percent interest in the common areas are opposed to repair or restoration of the project; or
(d) Conditions for such a partition by sale set forth in restrictions entered into with respect to such project have been met.
2. Except as provided in subsection 1, the common areas shall remain undivided, and there shall be no judicial partition thereof. Nothing herein shall be deemed to prevent partition of a cotenancy in a condominium.
(Added to NRS by 1963, 127)
Structure Nevada Revised Statutes
NRS 117.020 - Applicability; recordation, amendment and revocation of plan of project.
NRS 117.030 - Conveyance of unit: Presumption of conveyance of entire condominium.
NRS 117.040 - Incidents of grant.
NRS 117.050 - Partition of project.
NRS 117.060 - Declaration of restrictions.
NRS 117.065 - Maintenance fees: Custodial accounts; records.
NRS 117.075 - Assessment liens: Exercise of power of sale.
NRS 117.090 - Common personalty.
NRS 117.100 - Liberal construction of deed, declaration or plan for project.
NRS 117.103 - Rules against perpetuities and unreasonable restraints on alienation.