SB391
AN ACT relating to real property; limiting, with certain exceptions, the total aggregate number of units of residential real property in this State that may be purchased in any 1 calendar year by certain corporate investors; requiring, with certain exceptions, certain corporate investors in residential real property in this State to register with the Securities Division of the Office of the Secretary of State each time before purchasing a unit of residential real property; authorizing the Attorney General to bring certain actions; requiring the Secretary of State to establish requirements for the form and contents of an instrument that creates a life estate; prohibiting a county recorder from recording certain deeds and documents under certain circumstances; and providing other matters properly relating thereto. Close title AN ACT relating to real property; limiting, with certain exceptions, the total aggregate number of units of residential real property in this State that may be purchased in any 1 calendar year by certain corporate investors; requiring, with certain exceptions, certain corporate investors in residential real property in this State to register with the Securities Division of the Office of the Secretary of State each time before purchasing a unit of residential real property; authorizing the Attorney General to bring certain actions; requiring the Secretary of State to establish requirements for the form and contents of an instrument that creates a life estate; prohibiting a county recorder from recording certain deeds and documents under certain circumstances; and providing other matters properly relating thereto.
Introduction Date
Monday, March 17, 2025
Primary Sponsor
View 1 Primary Sponsors Close Primary Sponsors Senator Dina
Public exhibits
13
Support 6 · Opp 5 · Neutral 1
Auditor findings
0
recusal 0 · QPQ 0
AN ACT relating to real property; limiting, with certain exceptions, the total aggregate number of units of residential
Section 2 of this bill provides, with certain exceptions, that: (1) the total aggregate number of units of residential real property in this State that may be purchased in any 1 calendar year by corporations, limited-liability companies and any affiliates of such entities must not exceed 100 units; and (2) a corporation, limited-liability company or affiliate of such an entity is prohibited from purchasing any unit of residential real property in this State if, as a result of the purchase, the total aggregate number of units of residential real property purchased in this State during the current calendar year by any corporations, limited-liability companies and affiliates of such entities would exceed 100 units. Section 2 also requires the Securities Division of the Office of the Secretary of State to create and maintain a registry of corporations, limited-liability companies and any affiliates of such entities that purchase or own residential real property in this State. Section 2 requires, with certain exceptions, a corporation, limited-liability company or any affiliate of such an entity to register with the Securities Division each time before the entity purchases any unit of residential real property in this State. Section 2 exempts from that requirement a corporation, limited-liability company or affiliate of such an entity that owns less than 10 units of residential real property in this State. Section 2: (1) authorizes the Secretary of State to charge a fee to each su
NELIS exhibits (13 on file)
Support (6)
- Taira Birnbaum — PLAN (Letter)
- Andrew Barbano (Letter)
- Mathilda Guerro-Miller — Native Voters Alliance (Letter)
- Maurice Page — Nevada Housing Coalition (Letter)
- Andre Stephenson — Nevada Housing Coalition (Letter)
- Nick Christie (Letter)
Opposition (5)
- David Howard — National Rental Home Council (Letter)
- (unnamed) (Testimony)
- Emily Osterberg — Henderson Chamber of Commerce (Letter)
- Tony Castagno — AMH (Letter)
- Amherst Group (Letter)
Neutral (1)
- Chris Anderson — Sala Consulting (Testimony)
Bill text + amendments: view on NELIS →