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NV SB242
Bill
Status
4/12/2025
Primary Sponsor
Edgar Flores
Click for details
AI Summary
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Investment companies are prohibited from entering into executory contracts to purchase residential property until the property has been listed for sale for at least 30 days
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"Investment company" is defined as any corporation, trust, LLC, partnership, association, fund, or similar entity that invests pooled capital from investors
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Contracts entered in violation of the 30-day waiting period are voidable by the seller at any time before the contract is fully executed
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Provisions apply to contracts entered into on or after October 1, 2025
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No fiscal impact on state or local government
Legislative Description
Revises provisions relating to the sale of residential property. (BDR 10-328)
Last Action
(Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)
4/12/2025