Large investors would face limits on Nevada home purchases

Large companies and investment groups would be barred from buying more than 1,000 residential units statewide in one calendar year and would have to register before buying, unless an exception applies. The rules cover corporations, foreign and multinational corporations, pooled investment vehicles, limited-liability companies, and their affiliates. They do not cover family trust companies or housing authorities. The limit would not apply to intracorporate transfers, newly built homes, mobile or manufactured homes, apartment buildings, certain credit-union sales, or existing homes found to be in the public interest. Entities owning fewer than 15 Nevada residential units would not have to register. Registered buyers would report each purchase, including its address, date, and price, within 10 business days. The act would apply to purchases completed after July 1, 2026; purchases completed on or before July 1, 2026, would be excluded. The administrative provisions would take effect upon passage and approval.

A purchase that exceeds the stated limit would be void, and the Attorney General could seek to cancel its deed or obtain a court order requiring compliance. These remedies would apply to purchases by covered companies, investment groups, limited-liability companies, and their affiliates that violate or threaten to violate the annual limit. The Secretary of State could investigate possible violations and share evidence with the Attorney General. The Attorney General could act at the Secretary of State’s request and could seek an injunction or other court-approved relief. These remedies would be in addition to other available civil remedies. The remedies would apply to covered purchases subject to the act’s July 1, 2026 general effective date and its exclusion for purchases completed on or before that date.

County recorders would have to reject covered residential deeds unless the buyer submits a matching Secretary of State registration certificate, and they would reject life-estate documents that do not meet state requirements. The deed rule would cover purchases by the listed companies, investment groups, limited-liability companies, and affiliates. It would not apply to covered entities owning fewer than 15 Nevada residential units. The registration certificate would have to be submitted with the deed for recording. The buyer’s name on the deed would have to match the name on the certificate. The Secretary of State would set requirements for the form and contents of life-estate documents and could request related recording information. These recording rules would apply to covered purchases and life-estate documents beginning July 1, 2026, while regulations and other preparation could begin upon passage and approval.