NEVADA – Court of Appeals rules that Nevada HOA liens do not supersede first mortgages
Mortgage lenders and investors needn’t worry about whether a homeowners’ association super lien will be given priority over a first mortgage in the state of Nevada, at least for now.
According to an alert published Monday by Ballard Spahr, the Ninth Circuit Court Appeals ruled last week that an older version of Nevada’s laws, which previously gave super-priority status to HOA liens, is unconstitutional.
In a 2-1 decision, the Ninth Circuit overruled a 2014 decision from the Nevada Supreme Court, which held that foreclosure of a super lien for HOA assessments can extinguish a first mortgage. Read more:
Posted on August 16, 2016, in Uncategorized. Bookmark the permalink. Comments Off on NEVADA – Court of Appeals rules that Nevada HOA liens do not supersede first mortgages.