NRS 645.194 requires that all licensees deliver to their clients a Residential Disclosure Booklet. This booklet provides information relating to disclosures that must be made by a buyer and seller in a residential transaction that are required by federal, state, and local laws and regulations. Some of these disclosures relate to the agency disclosure requirements discussed previously in this chapter.
In making this a mandatory disclosure booklet, not only are the principals in a transaction better informed as to their disclosure responsibilities, but it will act as a risk management tool for licensees involved in that transaction.
This residential disclosure booklet may not be altered in any way. It is the only authorized version that may be distributed. The booklet includes a page on which the client of the licensee and an unrepresented party to the transaction must sign, acknowledging receipt of the disclosure booklet. This page must be retained by the licensee and included as part of the transaction file. A copy of the acknowledgment may be kept in additional transaction files for the same client.
State Disclosures:
Federal Disclosures:
