NEVADA – Nevada Supreme Court rulings favor HOAs
The state Supreme Court on Thursday issued two rulings bolstering homeowners associations’ ability to sell houses through foreclosure.
Nevada’s highest court unanimously ruled that a 2014 decision upholding HOAs’ ability to foreclose ahead of mortgage lenders can be retroactively applied to foreclosures that took place before that ruling.
Separately, the seven-member panel also unanimously reversed a Clark County District Court’s decision to dismiss a lawsuit by a homebuyer who acquired a property through an HOA foreclosure and sued to wipe out the prior owners’ and lender’s rights to the house.
Collectively, the decisions appear to only boost HOAs’ ability in Nevada to seize homes from owners who fell behind on their association dues and to auction off the properties, at times for a relative pittance.
Posted on July 28, 2017, in Uncategorized. Bookmark the permalink. Comments Off on NEVADA – Nevada Supreme Court rulings favor HOAs.