459.644 - Effect of certificate of completion: Applicability to persons other than original holder.
459.644 Effect of certificate of completion: Applicability to persons other than original holder.
1. The relief from liability provided by NRS 459.640 extends to another person who:
(a) Purchases or leases the property to which the certificate of completion relates; or
(b) Acquires, merges with or purchases substantially all of the assets of the holder of the certificate,
Ê after the certificate is issued, if the other person is not otherwise a responsible party. The other person is subject to any duties of the original holder of the certificate under the remedial agreement or the certificate.
2. The relief provided to a subsequent owner or lessee continues even if it is determined that the original holder of the certificate is not released from liability because of a provision of NRS 459.642 if:
(a) The subsequent owner or lessee purchased or leased the property in good faith for its fair market value; and
(b) The actions of the original holder of the certificate cannot be attributed to the subsequent owner or lessee under a provision of law other than this chapter.
3. If the original holder of a certificate of completion is a prospective purchaser, the relief from liability provided by NRS 459.640 extends to the person from whom he or she purchases the property if:
(a) The seller and purchaser so agree;
(b) The seller bears the expense of removal or remediation performed on the property, directly or indirectly;
(c) The seller is a responsible party only because of his or her ownership of the property; and
(d) The Administrator approves the extension of relief and incorporates it into the certificate of completion.
(Added to NRS by 1999, 2692)