Opinion
No. 64672
11-20-2014
SFR INVESTMENTS POOL 1, LLC, A NEVADA LIMITED LIABILITY COMPANY, Appellant, v. WELLS FARGO BANK, N.A.; AND NV WEST SERVICING, LLC, A LIMITED LIABILITY COMPANY, AS TRUSTEE FOR LAKOTA TRUST #8660, Respondents.
An unpublished order shall not be regarded as precedent and shall not be cited as legal authority. SCR 123.
ORDER OF REVERSAL AND REMAND
This is an appeal from a district court order granting a motion to dismiss in a quiet title and wrongful foreclosure action. Eighth Judicial District Court, Clark County; Ronald J. Israel, Judge.
The district court granted respondents' motions to dismiss, finding that SFR Investments had failed to state a viable claim for relief because "the HOA may have a priority for payment of its lien, but the first security interest Deed was not extinguished by the foreclosure sale conducted by the HOA." This court's recent disposition in SFR Investments Pool 1, LLC v. U.S. Bank, N.A., 130 Nev. ___, 334 P.3d 408 (2014), decides that a common-interest community association's NRS 116.3116(2) superpriority lien has true priority over a first security interest, and the association may nonjudicially foreclose on that lien. The district court's decisions thus were based on an erroneous interpretation of the controlling law and did not reach the other issues colorably asserted. Accordingly, we
REVERSE the orders granting the motions to dismiss AND REMAND this matter to the district court for further proceedings consistent with this order.
/s/_________, J.
Pickering
/s/_________, J.
Saitta
PARRAGUIRRE, J., concurring:
For the reasons stated in the SFR Investments Pool 1, LLC v. U.S. Bank, N.A., 130 Nev. ___, 334 P.3d 408 (2014), dissent, I disagree that respondent Wells Fargo lost its lien priority by virtue of the homeowners association's nonjudicial foreclosure sale. I recognize, however, that SFR Investments is now the controlling law and, thusly, concur in the disposition of this appeal.
/s/_________, J.
Parraguirre
cc: Hon. Ronald J. Israel, District Judge
Howard Kim & Associates
Buckley Madole, P.C.
Wright, Finlay & Zak, LLP/Las Vegas
Eighth District Court Clerk