Nev. Admin. Code § 119A.310 - Price; predevelopment sale; discount; future price; increase in value
An advertisement, a piece of promotional material or an oral representation regarding a time-share plan:
1. Which
refers to the purchase price of any time share must also clearly disclose any
additional compulsory assessment or cost to the prospective
purchaser.
2. Which refers to a
predevelopment sale being at a lower price, because a project within the
time-share plan has not yet been completed, must disclose whether there is a
good faith plan for such completion and, if there is such a plan, the estimated
completion date.
3. Must not contain
any statement concerning a future increase of the price by the developer which
is not specific as to the amount and the date of the increase, and a future
increase of the price may not be alluded to unless it is anticipated in good
faith.
4. Must not state that the
value of the land, unit or time share or an interest in the land, unit or time
share has increased in the project or the area.
Notes
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