As we have previously covered in a series of blog posts, the Nevada Supreme Court held in September 2014 that Nevada Revised Statute chapter 116 allows homeowners’ associations (HOAs) to non-judicially foreclose on homeowners who have overdue assessments, which may extinguish a first lien holder’s deed of trust. That holding, as well as the confusion leading up to it, has sparked thousands of quiet title cases in state and federal courts between purchasers from HOA foreclosure sales who claim to hold title free-and-clear of the first lien holder’s deed of trust and lenders who maintain that their deeds of trust remain valid. Read the article…………….
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