A Las Vegas attorney on Friday said the Nevada Supreme Court gave a legal victory to homeowners associations and their residents when it ruled that “house flippers” who fully paid off liens to quickly sell their investments at huge profits cannot now recoup some of that money.
A major opinion issued recently by the Nevada Supreme Court regarding super priority liens filed by homeowners associations is a positive development for Nevada because it has clarified many of the legal issues for everyone involved in the foreclosure market, an official with the company that won the ruling said Tuesday.
The Nevada Supreme Court on Thursday ruled that a super priority lien held by a homeowners association can extinguish a first deed of trust on a property, a decision that will create a windfall for some real estate investors in Las Vegas who picked up properties for pennies on the dollar.
The Nevada Supreme Court has rejected a request for class action status for claims of damaged stucco from faulty construction by Del Webb Communities involving nearly 1,000 Sun City Summerlin residents.
Former Greater Las Vegas Association of Realtors employee accuses managers of racial bias in discipline, use of racial slurs.
Attorneys representing nearly 1,000 Sun City Summerlin residents whose individual damage claims were nearly all rejected by a jury in a massive construction defect dispute took their case to the Nevada Supreme Court on Wednesday.