One issue which has confounded bankruptcy attorneys and courts is whether a creditor, that seized the debtor’s property before the debtor filed for bankruptcy, violates the automatic stay if it does not voluntarily return the...more
Over the last decade or so, many Nevada borrowers faced with foreclosure of their residences have objected to foreclosure proceedings because the lender does not hold the original promissory note. In Jones v. U.S. Bank...more
Most jurisdictions, including Nevada, have long-held that a secured creditor may exercise the self-help remedy of involuntary repossession of collateral provided that the repossession does not result in a breach of the peace....more
The COVID-19 pandemic has devastated much of Nevada’s economy. In order to provide some relief to Nevada residents and businesses, on March 29, 2020, Governor Sisolak issued Declaration of Emergency Directive 008 (“Directive...more
The Ninth Circuit has generally prohibited nonconsensual third-party releases in bankruptcy reorganization plans since at least 1949. See In re Lowenschuss, 67 F.3d 1394, (9th Cir. 1995) (citing Commercial Wholesalers, Inc....more
Preference actions have been vexing creditors for as long as the Bankruptcy Code has been around. Indeed, a creditor who receives a pre-petition transfer in violation of the preference statute may have to give the transferred...more
For the last several years, there has been a tremendous amount of litigation in Nevada arising from residential foreclosure sales conducted by homeowners’ associations (HOA). The main issue in those cases has been whether the...more
2/20/2020
/ Action to Quiet Title ,
CC&Rs ,
Contract Disputes ,
Deed of Trust ,
Foreclosure ,
Homeowners Association (HOA) ,
Lienholders ,
Mortgage Lenders ,
Mortgages ,
NV Supreme Court ,
Property Owners ,
Slander of Title ,
Super Priority
Nevada has a one-action rule which, with limited exceptions, requires a creditor seeking to recover a debt secured by real property to proceed against the security first prior to seeking recovery from the debtor personally....more
9/5/2017
/ Affirmative Defenses ,
Amended Complaints ,
Anti-Deficiency Provisions ,
Creditors ,
Final Judgment ,
Liens ,
Mortgage Lenders ,
Mortgages ,
NV Supreme Court ,
One-Action Rule ,
Public Policy ,
Secured Debt ,
Waivers
A quick drive through almost any newer residential community in the Southwest will show that a lot of residents are embracing “Green Energy” or renewable energy by placing solar panels on their properties. While most people...more
In Nevada’s master-planned communities it is common for one home to be in multiple homeowners’ associations. In such cases there is generally a master association for the master-planned community and then sub-associations for...more
In MB America, Inc., v. Alaska Pacific Leasing Company, 132 Nev. Adv. Op. 8 (February 4, 2016), the Nevada Supreme Court was presented with an appeal from an order granting a summary judgment in the defendant’s favor because...more
On September 30,2014, we posted “Lenders Beware: the Nevada Supreme Court Holds that Foreclosures of Homeowner’s Association Liens May Extinguish First Priority Deeds of Trust” which discussed the recent decision of SFR...more
In JED Property, LLC v. Coastline RE Holdings NV Corp., 131 Nev. Adv. Op. 11 (Mar. 5, 2015) the Nevada Supreme Court was presented with an appeal from an order granting summary judgment in favor of Coastline. Coastline held a...more
When no statute specifically authorizes a court-appointed receiver to sell real property, what type of sale is it? The Supreme Court of Nevada recently addressed this question, holding that “a receiver sale of real property...more
Nevada, like many jurisdictions, has recognized the ability of a tenant to vacate property if it becomes unfit for occupancy for the purpose for which it was leased. This is commonly known as a “constructive eviction.” ...more
Nevada has adopted the Uniform Common Interest Ownership Act of 1982 (the “Act”) which governs homeowners’ associations (“HOA”). One particular provision of that Act, enacted by Nevada in 1991 and later amended, and codified...more
On May 29, 2013, the Nevada Supreme Court issued two decisions that all real estate lenders need to be aware of because they have the potential to eliminate the ability of a lender to recover a deficiency judgment from a...more
In 2011 the Nevada Legislature enacted Assembly Bill 273 (“AB 273”) which amended NRS 40.459 by limiting deficiency judgments to the difference between the amount the lender paid to acquire the loan or obligation and the...more
6/19/2014
On June 12, 2014, the U.S. Supreme Court issued its opinion in Clark v. Rameker[1], opening up another source of recovery for creditors and Chapter 7 trustees in bankruptcy proceedings. In Clark, a Chapter 7 debtor inherited...more
In Jacobs v. Adelson, 130 Nev. Adv. Op. 44 (Mar. 29, 2014), the Nevada Supreme Court was asked to decide whether statements made to a newspaper during litigation were absolutely privileged. The case involved a defamation...more
Recently, we released a legal alert discussing the Nevada Supreme Court’s decision in Las Vegas Sands Corp. v. Eighth Jud. Dist. Ct., 130 Nev. Adv. Op. 13 (February 27, 2014), which addressed the intersection of NRS 50.125...more
Schleining v. Cap One, Inc., 130 Nev. Adv. Op. 36 (May 29, 2014), arises out of a loan to purchase an undeveloped piece of property, which was guaranteed by the principal of the borrower. After the borrower defaulted, the...more
In 2011, the U.S. Supreme Court decided Stern v. Marshall, 131 S.Ct. 2594. In Stern, the Court was faced with the question of whether the Bankruptcy Court had statutory and Constitutional authority to decide a counterclaim...more
In what the dissenting Justices insinuate is an elevation of form over substance, the Nevada Supreme Court denied a rehearing in Lavi v. Eighth Judicial District Court, 130 Nev. Adv. Op. 38, 2014 WL 2428749 (May 29, 2014),...more
On June 10, 2011, Nevada enacted Assembly Bill 273 (AB 273). As codified at NRS 40.459(1)(c), AB 273 limits the ability of a loan purchaser to collect a deficiency on the note and guarantees by basing the deficiency...more