Duties Owed — Nevada’s First-Required Disclosure
📖 1 min read
📋
Duties Owed Form (NV)
The signed form, required FIRST under Nevada law before any other document.
Lesson 1 of the Required Disclosures course. Under Nevada law, the Duties Owed by a Nevada Real Estate Licensee form must be signed FIRST — before any other document, before any showing, before any contract. Skip it or sign it out of order and you are exposed to a $10K fine.
Filling it out
- Make sure to include your complete Lic#.
- Select Buyer/Seller correctly on the form for whichever side you represent.
Key rules
- Initial on “May” or “May Not” — required. Missing this initial is a $10,000 fine. This is the confirmation of agency connected to the RPA.
- Must have a date and time PRIOR to writing any other document or form.
- Only one Duties Owed needs to be signed per person or entity — we recommend renewing after six (6) months.
- Line 2 — Name must match Duties Owed.
- Line 5 — Parcel # is most important (zips and cities change; the parcel does not).
- Dual Agency: each duties owed must be executed by the other side — two fully executed duties owed (one buyer, one seller).
⚖️ Why this matters
Duties Owed is the foundation of every Nevada real estate transaction. Sign it FIRST, every time, with the correct Buyer/Seller selection, your full license number, and the May/May Not initial. Renew every 6 months as a safety net.