Notice or transfer of security to tenant and successor in interest required upon transfer of dwelling unit.
1. Upon termination of the landlord’s interest in the dwelling unit, whether by sale, assignment, death, appointment of receiver or otherwise, the landlord or his agent shall, within a reasonable time, do one of the following, which relieves him of further liability with respect to the security:
(a) Notify the tenant in writing of the name, address and telephone number of his successor in interest, and that he has transferred to his successor in interest the portion of the security remaining after making any deductions allowed under NRS 118A.242.
(b) Return to the tenant the portion of the security remaining after making any deductions allowed under NRS 118A.242.
Ê The successor has the rights, obligations and liabilities of the former landlord as to any securities which are owed under this section or NRS 118A.242 at the time of transfer.
2. The landlord shall, before he records a deed transferring any dwelling unit:
(a) Transfer to his successor, in writing, the portion of any tenant’s security deposit or other money held by him which remains after making any deductions allowed under NRS 118A.242; or
(b) Notify his successor in writing that he has returned all such deposits or portions thereof to the tenant.
Last modified: February 27, 2006