Energy Consumption Evaluation requirements
Effective January 1, 2011, sellers of residential properties will be required to provide buyers with an evaluation of energy consumption. SB 437 (2007 Session) added the following to the Nevada Revised Statutes (NRS) which outlines this new requirement:
NRS 701.250 Program to evaluate energy consumption of residential property. [Effective January 1, 2009.]
1. The Director shall adopt regulations establishing a program for evaluating the energy consumption of residential property in this State.
2. The regulations must include, without limitation:
(a) Standards for evaluation the energy consumption of residential property; and
(b) Provisions prescribing a form to be used pursuant to NRS 113.115, including, without limitation, provisions that require a portion of the form to provide information on programs created pursuant to NRS 702.275 and other programs of improving energy conservation and energy efficiency in residential property.
3. As used in this section:
(a) “Dwelling unit” means any building, structure or portion thereof which is occupied as, or designed or intended for occupancy as, a residence by one person who maintains a household or by two or more persons who maintain a common household.
(b) “Residential property” means any land in this State to which is affixed not less than one or more than four dwelling units.
(Added to NRS by 2007, 2973, effective January 1, 2009)
NRS 113.115 Seller to provide evaluation of energy consumption of property; limitations. [effective January 1, 2011.]
1. Except as otherwise provided in subsection 3, the seller shall have the energy consumption of the residential property evaluated pursuant to the program established in NRS 701.250.
2. Except as otherwise provided in subsection 4, before closing a transaction for the conveyance of residential property, the seller shall serve the purchaser with the completed evaluation required pursuant to subsection 1, if any, on a form to be provided by the Director of the Office of Energy, as prescribed in regulations adopted pursuant to NRS 701.250. of NRS.
3. Subsection 1 does not apply to a sale or intended sale of residential property:
(a) By foreclosure pursuant to chapter 107 of NRS.
(b) Between any co-owners of the property, spouses or persons related within the third degree of consanguinity.
(c) By a person who takes temporary possession or control of or title to the property solely to facilitate the sale of the property on behalf of a person who relocates to another county, state or country before title to the property is transferred to a purchaser.
(d) If the seller and purchaser agree to waive the requirements of subsection 1.
4. If an evaluation of a residential property was completed not more than 5 years before the seller and purchaser entered into the agreement to purchase the residential property, the seller may serve the purchaser with that evaluation.
(Added to NRS by 2007, 2987, effective January 1, 2011)
*Information from Nevada Revised Statutes (www.leg.state.nv.us)
Should you have any questions or need further information,
please don’t hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com
Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521
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