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SMALL BUSINESS NEWS

16 May 2013

 

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Nevada Construction Defect Law

Another bill is making its way through the Nevada legislature that can have a negative impact on construction small businesses in Nevada. 

The NFIB believes that this legislation is very bad for builders, contractors, subcontractors, insurers, and anyone else involved in the home building industry and have made it a major objective to get the law fixed.

Existing law authorizes a claimant to recover reasonable attorney’s fees for a claim for a constructional defect in certain circumstances. (NRS 40.655) Section 1 of this bill removes this provision.  Section 2 of this bill provides that this change applies to any claim that arises on or after October 1, 2013.

Under the new bill the following claims will be permissible:

1. Pay for cost of repairs made or yet to be made

2. Expense of temporary housing incurred during the repairs.

3. Reduction in market value as a result of defect.

4. The loss of the use of all or part of the residence.

5. The reasonable value of any other property damaged by the constructional defect

6.  Any additional costs reasonably incurred by the claimant, including, but not limited to, any costs and fees incurred for the retention of experts to:

Sources:
Legiscan
Open Stats
Nevada Legislature
NFIB


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