1. A seller of real property that is subject to a private transfer fee obligation shall furnish to the buyer a written statement which discloses the existence of the private transfer fee obligation, includes a description of the private transfer fee obligation and sets forth a notice in substantially the following form: A private transfer fee obligation has been created with respect to this property. The private transfer fee obligation may lower the value of this property. The laws of this State prohibit the enforcement of certain private transfer fee obligations that are created or recorded on or after May 20, 2011, ( NRS 111.865 ) and impose certain notice requirements with respect to private transfer fee obligations that were created before May 20, 2011 ( NRS 111.870 ). 2. As used in this section, private transfer fee obligation has the meaning ascribed to it in NRS 111.845 .
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