RS 118A.244 Â Notice or transfer of security to tenant and successor in interest required upon transfer of dwelling unit.
Â Â Â Â 1. Â Upon termination of the landlordâ€™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:
Â Â Â Â (a) Notify the Nevada 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.
Â Â Â Â (b) Return to the tenant the portion of the security remaining after making any deductions allowed under NRS 118A.242.
A landlord cannot legally deduct for normal wear and tear. This refers to deterioration which occurs during regular, daily, intended use of the rental unit, for example nail holes in the walls from pictures or paintings. An itemized list of repairs has to be provided to the tenants in writing.
Landlord in Nevada have to return the security deposit within 30 days from termination of the lease.
Realty Executives of Nevada
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