Nevada Revised Statutes 487.830 – Transfer of interest in motor vehicle: Transferor to disclose in writing information as to status of vehicle as salvage, rebuilt or reconstructed; additional duties of transferor; criminal penalty
1. Any person who transfers an interest in a motor vehicle in this State shall, before the transfer, disclose in writing to the transferee any information that the transferor knows or reasonably should know concerning whether the vehicle is a salvage vehicle, a rebuilt vehicle or a reconstructed vehicle, as that term is defined in NRS 482.100.
Terms Used In Nevada Revised Statutes 487.830
- Contract: A legal written agreement that becomes binding when signed.
- 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
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. If the transferor is subject to any of the provisions of NRS 482.423 to 482.4245, inclusive, the transferor shall:
(a) Make the disclosure required by subsection 1 before executing a contract of sale or a long-term lease;
(b) Provide a copy of the disclosure to the transferee; and
(c) Retain the written disclosure in his or her records for the period specified in NRS 482.3263.
3. A person who violates subsection 1 is guilty of obtaining property by false pretenses as provided in NRS 205.380.