Opinions mixed on construction-defect law
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Feb. 5–A 2003 law intended to curb construction defect litigation in Las Vegas has accomplished little to improve the availability of affordable housing, legal experts said. “In general, miserable failure,” David Lee, a Las Vegas attorney who represents developers and general contractors, said of Senate Bill 241. The amendment to NRS Chapter 40, known as the “right to repair” law, gives builders 105 days to address alleged defects before homeowners can contact a lawyer and file a lawsuit. Developers curtailed production of entry-level condominiums and townhomes in the late 1990s, leery of being sued over alleged defects, even after buildings had passed code inspections and received certificates of occupancy. They said “frivolous” litigation was making it difficult to obtain construction liability insurance. The pool of companies willing to underwrite condo projects in Las Vegas had shrunk to two or three and they were tripling their premiums. Some observers say builders have yet to bring significant attached housing onto the market, with apartment conversions accounting for most of last year’s new condo sales. The median price of a conversion is about $186,000, compared with $310,000 Source : accessmylibrary.com |