Nevada Revised Statutes 116.077 – ‘Proprietary lease’ defined
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‘Proprietary lease‘ means an agreement with the association pursuant to which a member is entitled to exclusive possession of a unit in a cooperative.
Terms Used In Nevada Revised Statutes 116.077
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC