Nevada Supreme Court Accepts Certified Question in HOA Lien Litigation Case – Should the SFR Decision Apply Retroactively?
We previously reported on the Nevada Supreme Court’s decision in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A., holding that a homeowners association (HOA) lien is a true super-priority lien that upon foreclosure extinguishes a first deed of trust. This decision came as a surprise to many, including the district court judges who sharply disagreed on the proper interpretation of Nevada’s statute and whether it in fact provided for a true super-priority lien. Yet, SFR left many unanswered questions, including whether its core holding—that foreclosure of an HOA lien could extinguish a first deed of trust—applies retroactively. That question may soon be answered. Read the article……………..