Bill > SB242

This bill revises Nevada property law by creating new restrictions on investment companies' ability to purchase residential properties. Specifically, the bill prohibits investment companies—defined as entities like corporations, trusts, or funds that invest pooled capital from multiple investors—from entering into a contract to buy residential property that is currently listed for sale, unless that property has been on the market for at least 30 days. If an investment company attempts to purchase a property before it has been listed for 30 days, the seller retains the right to void the contract at any point before it is fully executed. The provisions of this bill will apply to contracts entered into on or after October 1, 2025, giving real estate markets and investment companies time to prepare for the new requirements. The underlying intent appears to be protecting residential property markets from rapid, large-scale investment purchases that could potentially disrupt local housing availability or affordability.