Nevada HOA super-priority lien statute preempted by federal law, holds U.S. District Court
On Monday, the U.S. District Court for Nevada issued significant decisions in three cases, holding that a foreclosure on a Nevada HOA’s super-priority lien could not extinguish a deed of trust securing a debt owned by a Government-Sponsored Enterprise (GSE). As previously noted on this blog, Chief Judge Navarro ruled a few weeks ago that the federal Housing and Economic Recovery Act (HERA) preempted state law to the extent that an HOA foreclosed on property for which a GSE was the record holder of the security interest. Read the article………..
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