Unless otherwise provided by a declaration of restrictions under NRS 117.060, the management body, if any, provided for therein, may acquire and hold, for the benefit of the condominium owners, tangible and intangible personal property and may dispose of the same by sale or otherwise; and the beneficial interest in such personal property shall be owned by the condominium owners in the same proportion as their respective interests in the common areas, and shall not be transferable except with a transfer of a condominium. A transfer of a condominium shall transfer to the transferee ownership of the transferor’s beneficial interest in such personal property.
(Added to NRS by 1963, 130)
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.