A great deal of new housing has been built in Nevada over the past decade, and that new housing increasingly is being built in planned community developments. As Nevada continues its rapid growth rate, nearly all new residential developments within the state are being build in some form of common ownership development. These neighborhood homeowner associations who are self-governed, feature private infrastructures, deed restrictions and covenants are shaping the quality of life for an increase number of Nevada residents. The complex interplay between private home ownership, shared community living, mixed with private government and ideology has resulted in the necessity to standardize the administrative and operational structure of common-interest communities. The Nevada Legislature responded to the challenge through the creation of 'Common-Interest Ownership (Uniform Act),' Nevada Revised Statues (NRS). This one-day seminar will furnish valuable instruction regarding the law that governs common-interest communities in Nevada.
- Introduction to common-interest community law in Nevada
- The association's legal requirements
- Enforcement of homeowner association documents and legal remedies
- The duties of the board and the community manager
- Financial accountability
- The role of the Commission for Common-Interest Communities
- The attendee will be able to discuss the development of condominium and homeowner associations.
- The attendee will be able to identify common issues that arise in development.
- The attendee will be able to review documents related to development.
9:00 a.m. - 10:00 a.m.
I. Introduction To Common-Interest Communities In Nevada
A. The Creation Of A Common-Interest Community
B. Legal Characteristics – Classification, Allocation, Voting Rights
C. Basic Structure Of The Association
10:00 a.m. - 10:30 a.m.
II. Rights And Powers Of The Association
A. The Association's Broad Spectrum Of Obligations
B. The Facts About Insurance Requirements
C. Governance Of The Common-Interest Community.
10:30 a.m. - 10:45 a.m.
10:45 a.m. - 12:00 p.m.
III. Executive Board Obligations And Duties
A. The Magnitude Of The Job
B. Meeting Requirements
C. Documents And Records
E. Role Playing
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 1:30 p.m.
IV. The Declarant
A. Public Offering Statement
B. Declarant Control/Turnover
C. Declarant/Developmental Rights
1:30 p.m. - 2:30 p.m.
VI. Financial Statements
A. Legal Requirements
B. Documents Prepared And Distributed
2:30 p.m. - 2:45 p.m.
2:45 p.m. - 3:45 p.m.
VII. The Role Of The Managing Agent
A. Duties And Qualifications Of The Community Manager
B. Disclosures And Grounds For Disciplinary Action
3:45 p.m. - 4:30 p.m.
VIII. The Commission
A. The Commission
B. Enforcement And Hearing Process