As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 119.015 to 119.112, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1971, 1403; A 1973, 1751; 1987, 1075; 1993, 1508)
“Administrator” means the Real Estate Administrator. (Added to NRS by 1973, 1759; A 1993, 1508; 2003, 1305)
“Blanket encumbrance” means a deed of trust, mortgage, judgment, including an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot offered within a subdivision, except that such term does not include any lien or other encumbrance arising as the result of the imposition of any tax […]
“Broker” means a real estate broker licensed under the provisions of chapter 645 of NRS. (Added to NRS by 1971, 1403)
“Developer” means: 1. The owner of subdivided land who, on his or her own behalf or through an agent or subsidiary, offers it for sale. 2. The principal agent of an inactive owner. (Added to NRS by 1971, 1403; A 1973, 1751)
“Director” means the Director of the Department of Business and Industry. (Added to NRS by 1993, 1508)
“Division” means the Real Estate Division of the Department of Business and Industry. (Added to NRS by 1971, 1403; A 1993, 1509)
“Hearing officer” means a member of the staff of the Department of Business and Industry whom the Administrator has appointed as a hearing officer. (Added to NRS by 1973, 1759; A 1993, 1509)
“Offer” means every inducement, solicitation or attempt to bring about a sale. (Added to NRS by 1971, 1403)
“Person” includes a government, a governmental agency and a political subdivision of a government. (Added to NRS by 1971, 1403; A 1985, 508)
“Property report” means a report, issued by the Administrator pursuant to the provisions of this chapter, which authorizes a developer to offer to sell or sell an interest in a subdivision and contains the disclosures required in NRS 119.182. (Added to NRS by 1987, 1074)
“Purchaser” means any person who acquires or attempts to acquire an interest in any portion of a subdivision. (Added to NRS by 1971, 1403; A 1973, 1751)
“Registered representative” is any person who is employed or engaged by a developer to represent a company for compensation in offering or selling subdivided lands pursuant to this chapter, but does not include any officer of the developer or any of the subsidiaries of the developer, or any owner, partner or associate of the developer […]
“Sale” means any sale, exchange, lease, assignment or other transaction designed to convey an interest in any portion of a subdivision when undertaken for profit. (Added to NRS by 1971, 1404)
“Statement of record” means the information submitted to the Administrator by the developer in its application for a permit to offer to sell or sell an interest in a subdivision. (Added to NRS by 1987, 1075)
“Subdivision” means any land or tract of land in another state, in this state or in a foreign country from which a sale is attempted, which is divided or proposed to be divided over any period into 35 or more lots, parcels, units or interests, including but not limited to undivided interests, which are offered, […]
“Unit” means the smallest salable portion of a subdivision. (Added to NRS by 1973, 1759)
