Resources Grp., LLC v. U.S. Bank National Ass'n. ( 2016 )

IN THE SUPREME COURT OF THE STATE OF NEVADA
RESOURCES GROUP, LLC, AS No. 64676
TRUSTEE OF THE BOURNE VALLEY
COURT TRUST,
Appellant,
vs. FILED
U.S. BANK NATIONAL ASSOCIATION,
MAY 2 3 2016
AS TRUSTEE FOR STRUCTURED
TRACIE K. LINDEMAN
ASSET INVESTMENT LOAN TRUST, CLERK OF SUPREME COURT
MORTGAGE PASS-THROUGH By 5 -``1
DEPUTY
CERTIFICATES, SERIES 2005-10,
Respondent.
VACATING AND REMANDING
This is an appeal from a district court order denying a
preliminary injunction in a quiet title action. Eighth Judicial District
Court, Clark County; Kenneth C. Cory, Judge.
Thefl district court denied appellant's preliminary injunction
motion, finding that appellant lacked a reasonable likelihood of success on
the merits of its quiet title claim because Copperhead Hills Landscape
Maintenance Association's nonjudicial foreclosure sale did not extinguish
respondent's deed of trust. In SFR Investments Pool 1, LLC v. U.S. Bank,
N.A., 130 Nev., Adv. Op. 75, 334 P.3d 408 (2014), this court decided that a
common-interest community association's superpriority lien has true
priority over a first security interest, and the association may
nonjudicially foreclose on that lien. Thus, the district court's decision
appears to have been based in part on an erroneous interpretation of the
controlling law. To the extent that the district court based its decision on
the conclusion that Copperhead Hills' lien did not include amounts for
which superpriority status can be granted, the record contains conflicting
evidence in that respect, even in light of this court's recent decision in
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Horizons at Seven Hills Homeowners Ass'n v. Ikon Holdings, LLC, 132
Nev., Adv. Op. 35, P.3d (2016). Cf. SFR Invs., 130 Nev., Adv. Op.
75, 334 P.3d at 418 (observing that monthly assessments "will typically
comprise most, perhaps even all, of the HOA lien"). Accordingly, we
VACATE the order denying preliminary injunctive relief AND
REMAND this matter to the district court for further proceedings
consistent with this order.'
J.
J.
Saitta
Pickering
cc: Hon. Kenneth C. Cory, District Judge
Law Offices of Michael F. Bohn, Ltd.
Snell & Wilmer, LLP/Las Vegas
Eighth District Court Clerk
'The injunction imposed by our March 31, 2014, order is vacated.
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