Nevada Revised Statutes 117.050 – Partition of project
1. Where several persons own condominiums in a condominium project, an action may be brought pursuant to NRS 39.010 to 39.490, inclusive, by one or more of such persons for partition thereof by sale of the entire project, as if the owners of all the condominiums in such project were tenants in common in the entire project in the same proportion as their interests in the common areas, but a partition shall be made only upon the showing that:
Terms Used In Nevada Revised Statutes 117.050
- Common areas: means the entire project excepting all units therein granted or reserved. See Nevada Revised Statutes 117.010
- Condominium: means an estate in real property consisting of an undivided interest in common in portions of a parcel of real property together with:
(a) A separate interest in space in a residential, industrial or commercial building or industrial and commercial building on such real property, such as, but not restricted to, an apartment, office or store; or
(b) A separate interest in air space only, without any building or structure, to be used for a mobile home. See Nevada Revised Statutes 117.010
- Project: means the entire parcel of real property divided or to be divided into condominiums, including all structures thereon. See Nevada Revised Statutes 117.010
(a) Three years after damage or destruction to the project which renders a material part thereof unfit for its use prior thereto, the project has not been rebuilt or repaired substantially to its state prior to its damage or destruction; or
(b) Three-fourths or more of the project has been destroyed or substantially damaged, and that condominium owners holding in aggregate more than 50 percent interest in the common areas are opposed to repair or restoration of the project; or
(c) The project has been in existence in excess of 50 years, that it is obsolete and uneconomic, and that condominium owners holding in aggregate more than 50 percent interest in the common areas are opposed to repair or restoration of the project; or
(d) Conditions for such a partition by sale set forth in restrictions entered into with respect to such project have been met.
2. Except as provided in subsection 1, the common areas shall remain undivided, and there shall be no judicial partition thereof. Nothing herein shall be deemed to prevent partition of a cotenancy in a condominium.