Nevada Real Estate Form 504

What Is a Nevada Real Estate Division Form 504

The Nevada Real Estate Division Form 504, often called Form 504, is a critical document in the Nevada real estate sector. This form is used primarily to report and document the non-residential use of residential units. In essence, it is a form that property owners complete and submit to the Nevada Real Estate Division to provide official notification about the non-residential use of a particular property.

Often, properties pegged for residential occupancies are utilized for non-residential purposes such as office space, retail, or other business activity. In such instances, the change of use must be duly reported, and this is where the Nevada Real Estate Division Form 504 comes in.

When to Use Nevada Real Estate Division Form 504

The use of the Nevada Real Estate Division Form 504 is situational and is typically prompted by the change in the utilization of the property. Here are some specific situations that may necessitate the use of Form 504:

• Whenever a residential unit is converted for non-residential purposes.
• If a new business activity is initiated within a residential property. The nature of the business does not mitigate the need to file this form.
• If any upgrades or alterations have been made to make the residential unit more conducive to business operations.
• The form should be filed when a residential unit is consistently used for non-residential purposes.

How To Fill Out Nevada Real Estate Division Form 504

Filling out the Nevada Real Estate Division Form 504 is relatively straightforward. Below is a step-by-step guide detailing how to complete this form accurately:

1. Step 1: Please begin by filling in your information, which includes your full name, address, city, state, and ZIP code.
2. Step 2: Provide the complete physical address of the property in question, including the city, county, and the assessor's parcel number (APN).
3. Step 3: Detail the non-residential activities carried out on the premises. Be as comprehensive as possible to provide a clear picture of the property use.
4. Step 4: Indicate when the non-residential use of the property began.
5. Step 5: Append your signature, print your name, and add the date to officiate the information given.

When to File Nevada Real Estate Division Form 504

The timing for filing the Nevada Real Estate Division Form 504 is mainly contingent on when the change of use of the property into non-residential usage happens. Once you have commenced non-residential activities in the unit, it is essential to start the filing process immediately. Prompt filing ensures compliance with the regulations the Nevada Real Estate Division sets, thereby protecting the owner from statutory infractions that may attract penalties. Regular updates are also crucial if any changes to the non-residential use are outlined in the form initially filed. These updates protect the owner from any future discrepancies concerning the use of the property.