NRS 645A.173 - Duty to record certain information concerning real estate brokers and salespersons and mortgage companies. [Effective January 1, 2020.]

NV Rev Stat § 645A.173 (2019) (N/A)

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1. If an escrow for the sale of real property is established, the holder of the escrow shall, on the date of establishment of the escrow, record in writing the number and the date of expiration of the:

(a) License issued pursuant to chapter 645 of NRS; or

(b) Certificate of cooperation issued pursuant to NRS 645.605,

of any real estate broker, broker-salesperson or salesperson who will be paid compensation from money held in the escrow for performing the services of a real estate broker, broker-salesperson or salesperson in the transaction that is the subject of the escrow. The holder of the escrow is not required to verify independently the validity of the number of the license or certificate.

2. If an escrow for the sale of real property is established and the real property is or will be secured by a mortgage or deed of trust, the holder of the escrow shall, on the date of establishment of the escrow, record in writing the number and the date of expiration of the license issued pursuant to chapter 645B of NRS of any mortgage company associated with the mortgage or deed of trust. The holder of the escrow is not required to verify independently the validity of the number of the license.

(Added to NRS by 1999, 873; A 2001, 2463; 2003, 3542; 2017, 3034, effective January 1, 2020)

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NRS 645A.173 - Duty to record certain information concerning real estate brokers and salespersons, mortgage brokers and mortgage bankers. [Effective through December 31, 2019.]

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NRS 645A.175 - Duty to execute documents necessary to release money deposited in escrow; exception for good faith disputes; recovery of damages for failure to execute; award of attorney’s fees.