News & Analysis as of

Deed of Trust Foreclosure Condominiums

Conn Kavanaugh

Developers Must Explicitly Reserve Construction Right in Phased Condominium Project

Conn Kavanaugh on

As any seasoned developer knows, condominium development projects involve a delicate interplay between the developer, unit owners, the condo association, and the lenders that fund construction and acquisition costs. Last...more

Bradley Arant Boult Cummings LLP

New Decision from the D.C. Court of Appeals Recognizes Additional Defenses to HOA Super-Priority Lien Statute

As we noted in last week’s blog post, the District of Columbia Court of Appeals issued a decision on March 1, 2018, that created a new wave of uncertainty for lenders with loans secured by deeds of trust on condominium units...more

Ballard Spahr LLP

Reading the Nevada Tea Leaves after Shadow Wood

Ballard Spahr LLP on

In the wake of SFR Investments Pool 1, LLC v. U.S. Bank, N.A., in which the Nevada Supreme Court held that an HOA foreclosure sale may extinguish a first position deed of trust, lenders have advanced numerous arguments as to...more

Dechert LLP

“First” Deeds of Trust now Second in Line?

Dechert LLP on

Never a dull moment. We at Crunched Credit are probably guilty of excess and perhaps myopic focus on our federal government and its regulatory apparatus; it is such a consistently reliable source of commentary and outrage. ...more

Cooley LLP

Blog: HOA Liens Reign Supreme Under Nevada’s Interpretation of the Uniform Common Interest Ownership Act

Cooley LLP on

Nevada is one of many states that adopted some iteration of the Uniform Common Interest Ownership Act, an act designed in part to aid homeowners’ associations (“HOAs”) in recovering delinquent fees from their members. As...more

Snell & Wilmer

Lenders Beware: the Nevada Supreme Court Holds That Foreclosures of Homeowners’ Association Liens May Extinguish First Priority...

Snell & Wilmer on

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

Snell & Wilmer

Arizona Supreme Court to Contractor: Sorry But Equitable Subrogation of a Bank’s Later Deed of Trust Trumps Earlier Mechanics’...

Snell & Wilmer on

The smoke has finally cleared in a hard and long-fought battle between a bank and contractor both claiming priority to foreclose millions of dollars on a Phoenix condominium project. The project, well-known as Summit at...more

Snell & Wilmer

Can an HOA "Super-Priority" Lien Extinguish a Lender's Deed?

Snell & Wilmer on

It is hard to imagine that a lender’s first-position deed of trust on a residence worth hundreds of thousands of dollars could be extinguished by a homeowners’ association (HOA) lien for overdue neighborhood assessments,...more

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