427A.570 - Claim to be disallowed and refund to be repaid with penalty if property acquired to obtain benefits.
427A.570 Claim to be disallowed and refund to be repaid with penalty if property acquired to obtain benefits. A claim must be disallowed if the Division finds that the claimant received title to a home primarily to obtain benefits pursuant to the provisions of NRS 427A.450 to 427A.600, inclusive. If such a claimant has received a refund and does not repay it together with a 10 percent penalty to the Division, the amount of the refund and penalty must be assessed against the property claimed by the claimant as a home.
(Added to NRS by 2001, 2659; A 2003, 2020)