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Cranesbill Tr. V. Wells Fargo Bank, 136 Nev. Adv. Op. 8 (March 5, 2020), Brittney Lehtinen
Cranesbill Tr. V. Wells Fargo Bank, 136 Nev. Adv. Op. 8 (March 5, 2020), Brittney Lehtinen
Nevada Supreme Court Summaries
The Court determined that homeowners may cure defaults as to superpriority portions of HOA liens much like first deed of trust holders; however, failure to explicitly or implicitly direct allocation of payments by either debtors or creditors requires court intervention to decide what is “just and equitable.”
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.
U.S. Bank Nat’L Ass’N Nd Vs. Resources Grp., Llc, 135 Nev. Adv. Op. 26 (July 3, 2019), Christopher Gonzalez
U.S. Bank Nat’L Ass’N Nd Vs. Resources Grp., Llc, 135 Nev. Adv. Op. 26 (July 3, 2019), Christopher Gonzalez
Nevada Supreme Court Summaries
The Court determined that (1) previous case law and the NRS require an HOA that is seeking to foreclose a superpriority lien to send the holder of a recorded first deed of trust a notice of default and notice of sale, even when they have not been formally requested. Additionally, they held that (2) the district court would have to decide questions of fact to determine whether Resources Group was a bona fide purchaser.
Sfr Inv.'S Pool 1, Llc V. First Horizon Home Loans, 134 Nev. Adv. Op. 4 (Feb. 1, 2018), Brendan Mcleod
Sfr Inv.'S Pool 1, Llc V. First Horizon Home Loans, 134 Nev. Adv. Op. 4 (Feb. 1, 2018), Brendan Mcleod
Nevada Supreme Court Summaries
The Court determined that, under provisions of NRS 116.31162, when an HOA records a notice of a foreclosure sale, any subsequent buyer who purchases the property is subject to that notice that a foreclosure may be imminent.
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.
Renfroe V. Lakeview Loan Serv., L.L.C., 133 Nev. Adv. Op. 50 (July 27, 2017), Christopher Kelly
Renfroe V. Lakeview Loan Serv., L.L.C., 133 Nev. Adv. Op. 50 (July 27, 2017), Christopher Kelly
Nevada Supreme Court Summaries
The Court determined that the NRS 116.3116 provisions that grant homeowners’ associations (HOAs) superpriority lien status for delinquent HOA dues are not preempted by federal law when the first deed of trust on the property in question is insured through the Federal Housing Administration (FHA). The FHA insurance program at issue contemplates HOA lien priority schemes like NRS 116.3116 specifically. Mortgagees can comply with relevant state and federal law without stifling the purpose of the federal law, and therefore, preemption does not apply.
Shadow Wood Homeowners Association, Inc.; And Gogo Way Trust V. New York Community Bancorp, Inc. (January 28, 2016), Andrea Orwoll
Shadow Wood Homeowners Association, Inc.; And Gogo Way Trust V. New York Community Bancorp, Inc. (January 28, 2016), Andrea Orwoll
Nevada Supreme Court Summaries
The Court reviewed an appeal from a district court order granting summary judgment to a bank that had lost a condominium in an HOA lien foreclosure sale. The Court held that despite statutory provisions, which seem prohibit overturning an HOA lien foreclosure sale if required recitals are present in the HOA’s trustee deed, there remains a common law power to overturn such foreclosure sales. The Court reaffirmed the principle that, where appropriate, Nevada courts may “grant equitable relief from a defective HOA lien foreclosure sale”—but only when there has been both 1) an inadequate price paid, and 2) fraud or …
Southern Highlands V. San Florentine, 132 Nev. Adv. Op. 3 (Jan. 14, 2016), Kristen Matteoni
Southern Highlands V. San Florentine, 132 Nev. Adv. Op. 3 (Jan. 14, 2016), Kristen Matteoni
Nevada Supreme Court Summaries
Under the plain language of NRS 116.3116(4), “equal priority” is given to multiple HOA liens on the same property when those liens secure unpaid HOA charges and dues. When one lienholder of equal priority forecloses, all other liens are terminated. Nonetheless, all equal priority lienholders share in the foreclosure profit by either being paid in full when able to do so or, if sale profit is inadequate, through a pro-rata share of the proceeds. Thus, because the Foothills and Southern Highlands have equal priority liens, Foothills’ foreclosure terminated Southern Highlands lien, however Southern Highlands is entitled its allotment of the …