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Nationstar Mortg., Llc V. Saticoy Bay Llc Series 2227 Shadow Canyon, 133 Nev. Adv. Op. 409 (Nov. 22, 2017), Connor Saphire
Nationstar Mortg., Llc V. Saticoy Bay Llc Series 2227 Shadow Canyon, 133 Nev. Adv. Op. 409 (Nov. 22, 2017), Connor Saphire
Nevada Supreme Court Summaries
The Court considered an appeal from a district court order granting summary judgment. In its holding, the Court concluded that it would not invalidate a foreclosure sale based on a low sales price alone. The commercial reasonableness standard established by Article 9 of the Uniform Commercial Code (U.C.C.) does not apply to Homeowner’s Association (HOA) foreclosures because they involve real property sales. Rather, there must be a showing of “fraud, unfairness, or oppression” on behalf of the seller.
Facklam V. Hsbc Bank Usa, 126 Nev. Adv. Op. 65 (September 14, 2017), Ellsie Lucero
Facklam V. Hsbc Bank Usa, 126 Nev. Adv. Op. 65 (September 14, 2017), Ellsie Lucero
Nevada Supreme Court Summaries
The Court held that NRS 11.190(1)(b)’s statute of limitations does not apply to nonjudicial foreclosures because it is not a judicial action.
Property Plus Inv.’S, Llc V. Mortg. Elec. Registration Sys., Inc., 133 Nev. Adv. Op. 62 (Sept. 14, 2017), Margaret Higgins
Property Plus Inv.’S, Llc V. Mortg. Elec. Registration Sys., Inc., 133 Nev. Adv. Op. 62 (Sept. 14, 2017), Margaret Higgins
Nevada Supreme Court Summaries
The Court determined that: (1) under NRS 116.3116 (The HOA Lien Statute), an HOA’s assertion and subsequent rescission of a superpriority lien does not preclude the HOA from asserting new, separate superpriority liens based on unpaid assessments accruing after the rescission of the previous superpriority lien; and (2) superpriority liens survive Chapter 7 bankruptcy discharge.
Ln Mgmt. Llc Series 5105 Portraits Place V. Green Tree Loan Servicing Llc, 133 Nev. Adv. Op. 55 (Aug. 03, 2017), Wesley Lemay Jr.
Ln Mgmt. Llc Series 5105 Portraits Place V. Green Tree Loan Servicing Llc, 133 Nev. Adv. Op. 55 (Aug. 03, 2017), Wesley Lemay Jr.
Nevada Supreme Court Summaries
If a homeowner that owns property in Nevada but declares bankruptcy in Texas and fails to list the Home Owners Association (HOA) as a creditor, the HOA cannot violate the automatic stay imposed by the bankruptcy and sell the property. If the property is sold in violation of the automatic stay, the sale is invalid. Under Ninth Circuit law, the sale is void ab initio while the Fifth Circuit holds that these types of sales are voidable, but can be approved by the bankruptcy court.
Nationstar Mortg. V. Sfr Invs. Pool 1, 133 Nev. Adv. Op. 34 (June 22, 2017), Elise Conlin
Nationstar Mortg. V. Sfr Invs. Pool 1, 133 Nev. Adv. Op. 34 (June 22, 2017), Elise Conlin
Nevada Supreme Court Summaries
The Court held that a servicer of a loan that is owned by a regulated entity does have standing to raise claims on behalf of the Federal Housing Finance Agency. If a party argues that federal law preempts state law when a case is properly before the court, then the court has authority to determine that issue.
Iliescu V. Steppan, 133 Nev. Adv. Op. 25 (May 25, 2017), Yolanda Carapia
Iliescu V. Steppan, 133 Nev. Adv. Op. 25 (May 25, 2017), Yolanda Carapia
Nevada Supreme Court Summaries
The NRS 108.245(1) actual notice exception does not apply to offsite work and services when no onsite work has been performed on the property.
In Re Davis Family Heritage Trust, 133 Nev. Adv. Op. 4 (Jan. 26, 2017), Maegun Mooso
In Re Davis Family Heritage Trust, 133 Nev. Adv. Op. 4 (Jan. 26, 2017), Maegun Mooso
Nevada Supreme Court Summaries
The Court determined that (1) NRS 155.190(1)(h) only grants the Court appellate jurisdiction over the portion of an appeal order instructing or appointing a trustee, and (2) persons accepting an appointment as an investment trust advisor for a trust with a situs in Nevada impliedly consent to personal jurisdiction in Nevada under 163.5555.
Village League V. State Bd. Of Equalization, 133 Nev., Adv. Op. 1 (January 26, 2017), Yolanda Carapia
Village League V. State Bd. Of Equalization, 133 Nev., Adv. Op. 1 (January 26, 2017), Yolanda Carapia
Nevada Supreme Court Summaries
The Court determined that (1) NRS 361.395 does not provide the State Board with authority to order reappraisals; and (2) the 2010 regulation purporting to provide the State Board with such authority does not apply retroactively to the tax years at issue in this case.