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Artemis Exploration Company V. Ruby Lake Estates Homeowner’S Association, 135 Nev. Adv. Op. 48, Austin Wood
Artemis Exploration Company V. Ruby Lake Estates Homeowner’S Association, 135 Nev. Adv. Op. 48, Austin Wood
Nevada Supreme Court Summaries
The Court determined that (1) implied payment obligations for common elements, contained in the property declaration, can provide adequate notice and create a common-interest community; and (2) NRS 116.3101(1) does not apply to common-interest communities formed before 1992, therefore the unit-owners’ association does not need to be organized before or at the time the first unit is conveyed.
Resources Group, Llc V. Nevada Association Services, Inc., 135 Nev. Adv. Op. 8 (Mar. 14, 2019), Alfa Alemayehu
Resources Group, Llc V. Nevada Association Services, Inc., 135 Nev. Adv. Op. 8 (Mar. 14, 2019), Alfa Alemayehu
Nevada Supreme Court Summaries
The Court determined that each party in a quiet title action has the burden of demonstrating superior title. Further, once a bid is accepted and payment is made, the foreclosure sale is complete and title vests in the purchaser, and the person conducting the sale does not have discretion to refuse issuing the foreclosure deed. Lastly, the correct standard for determining whether to set aside a sale on equitable grounds is whether there has been some showing of fraud, unfairness, or oppression affecting the sale.
Daisy Trust V. Wells Fargo Bank, N.A., 135 Nev. Adv. Op.30 (Jul. 25, 2019), Julia Armendariz
Daisy Trust V. Wells Fargo Bank, N.A., 135 Nev. Adv. Op.30 (Jul. 25, 2019), Julia Armendariz
Nevada Supreme Court Summaries
The Court determined that (1) NRS § 106.210 and NRS § 111.325 do not require a beneficiary to be identified on the publicly recorded deed of trust to establish ownership interest in the subject loan and (2) a loan service agreement or an original promissory note is not required to by the loan servicer to assert the Federal Foreclosure Bar on another’s behalf so long as properly authenticated business records can establish the ownership interest and (3) The Federal Foreclosure Bar preempts NRS § 116.3116(2) and prevents an HOA foreclosure sale from extinguishing the first deed of trust.
Saticoy Bay Llc V. Nev. Ass’N Servs., 135 Nev. Adv. Op. 23 (Jul. 3, 2019), Katrina Fadda
Saticoy Bay Llc V. Nev. Ass’N Servs., 135 Nev. Adv. Op. 23 (Jul. 3, 2019), Katrina Fadda
Nevada Supreme Court Summaries
The Court held that (1) under Nevada's HOA foreclosure redemption statute NRS 116.31166(3) a homeowner may use proceeds from the foreclosure sale to go towards redemption of the property; and (2) that sufficient compliance with the statute is enough to satisfy the statute's requirements.
Sfr Inv.’S Pool 1, Llc V. U.S. Bank Nat’L Ass’N, 135 Nev. Adv. Op. 45 (Sept. 26, 2019), Brittni Tanenbaum
Sfr Inv.’S Pool 1, Llc V. U.S. Bank Nat’L Ass’N, 135 Nev. Adv. Op. 45 (Sept. 26, 2019), Brittni Tanenbaum
Nevada Supreme Court Summaries
When a court grants retroactive annulment for an automatic bankruptcy stay on a property, a sale of the property during the stay will not be set aside, unless it can be shown that fraud, oppression, or unfairness occurred during the sales process.
Pascua V. Bayview Loan Servicing, Llc, 135 Nev. Adv. Op. 4 (Feb. 7, 2019), Scott Cooper
Pascua V. Bayview Loan Servicing, Llc, 135 Nev. Adv. Op. 4 (Feb. 7, 2019), Scott Cooper
Nevada Supreme Court Summaries
The Court determined that an individual who has been appointed special administrator of a decedent’s estate is entitled to participate in the Foreclosure Mediation Program if the property is the special administrator’s primary residence, and they retain an ownership interest through intestate succession laws.