NRS
40.665 Settlement by repurchase; certain offers of settlement deemed
reasonable. In addition to any
other method provided for settling a claim pursuant to
NRS 40.600 to
40.695, inclusive,
a contractor may,
pursuant to a written agreement entered into with a claimant, settle a claim by
repurchasing the claimant’s residence and the real property upon which it is
located. The agreement may include provisions which reimburse the claimant for:
1. The market value of the residence as if
no constructional defect existed, except that if a residence is less than 2
years of age and was purchased from the contractor against whom the claim is
brought, the market value is the price at which the residence was sold to the
claimant;
2. The value of any improvements made to
the property by a person other than the contractor;
3. Reasonable attorney’s fees and fees for
experts; and
4. Any costs, including costs and expenses
for moving and costs, points and fees for loans.
Ê Any offer of
settlement made that includes the items listed in this section shall be deemed
reasonable for the purposes of subsection 1 of NRS 40.650.
(Added to NRS by 1995,
2542; A 1997,
2721; 2003,
2046)
Notes of Decisions
Gonski v. Second Jud. Dist. Court Ex Rel. Cnty. of Washoe, 245 P.3d 1164 (Nev. 2010).
· cites it 2× “For example, the purchase agreement provision states that the parties shall bear their own attorney fees, and the limited warranty provision provides that the requesting party must initially pay for the arbitration costs and its own expenses.”
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