Nev. Rev. Stat. § 598.0923

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 598.0923 - "Deceptive trade practice" defined

1. A person engages in a "deceptive trade practice" when in the course of his or her business or occupation he or she knowingly:

(a) Conducts the business or occupation without all required state, county or city licenses.

(b) Fails to disclose a material fact in connection with the sale or lease of goods or services.

(c) Violates a state or federal statute or regulation relating to the sale or lease of goods or services.

(d) Uses coercion, duress or intimidation in a transaction.

(e) Uses an unconscionable practice in a transaction.

(f) As the seller in a land sale installment contract, fails to:

(1) Disclose in writing to the buyer:

(I) Any encumbrance or other legal interest in the real property subject to such contract; or

(II) Any condition known to the seller that would affect the buyer's use of such property.

(2) Disclose the nature and extent of legal access to the real property subject to such agreement.

(3) Record the land sale installment contract pursuant to NRS 111.315 within 30 calendar days after the date upon which the seller accepts the first payment from the buyer under such a contract.

(4) Pay the tax imposed on the land sale installment contract pursuant to chapter 375 of NRS.

(5) Include terms in the land sale installment contract providing rights and protections to the buyer that are substantially the same as those under a foreclosure pursuant to chapter 40 of NRS.

2. As used in this section:

(a) "Land sale installment contract" has the meaning ascribed to it in paragraph (d) of subsection 1 of NRS 375.010.

(b) "Unconscionable practice" means an act or practice which, to the detriment of a consumer:

(1) Takes advantage of the lack of knowledge, ability, experience or capacity of the consumer to a grossly unfair degree;

(2) Results in a gross disparity between the value received and the consideration paid, in a transaction involving transfer of consideration; or

(3) Arbitrarily or unfairly excludes the access of a consumer to a good or service.

NRS 598.0923

Added to NRS by 1985, 2256; A 1999, 3282; 2009, 1118; 2021, 1346

Amended by 2021, Ch. 256,§7, eff. 10/1/2021.

Added to NRS by 1985, 2256; A 1999, 3282; 2009, 1118