(BREAKING NEWS – OP-ED) — The author of this post offers this information for your educational value and not as legal advice; however, the court in this instance, the Supreme Court of Nevada, clearly screwed U.S. Bank, N.A. in favor of SFR Investments Pool 1 … reversing the summary judgment against SFR and ruling in SFR’s favor as to quiet title! See the case below:
- The early bird gets the worm … yet sometimes gets to fight over who gets to eat it.
- The appellate process worked all the way to the Supreme Court of Nevada, who saw reason to reverse it.
- The decision was per curiam.
- Retroactive annulments of bankruptcy stays are key to jumping in with both feet; hence, timing is everything.
- SFR used Nevada statutes to prove its case (and its right to sell the property at an HOA sale) was compliant with the statute.
Speaking of timing …
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UPDATE ON THE FOREGOING CASE: One of our investors has kindly reminded me that since Wells Fargo and U.S. Bank were both “late” in keeping track of this HOA foreclosure, it is highly likely that there are other properties out there worth searching for that would fall under the same outcome!