SFR Investments Pool 1, LLC v. U.S. Bank, N.A.
SFR Investments Pool 1, LLC v. U.S. Bank, N.A., 130 Nev. 742, 334 P.3d 408 (2014)
NRS 116.3116 creates a true super-priority lien for up to 9 months of unpaid assessments that takes priority over a first deed of trust. A properly conducted non-judicial foreclosure of the super-priority portion under NRS 116.31162 to 116.31168 extinguishes the first deed of trust and conveys clean title to the foreclosure-sale purchaser. The lien may be split into super-priority and sub-priority components, and a purchaser at the super-priority sale takes free of the senior lender's interest.
Landmark Nevada decision. Reaffirmed by Saticoy Bay (2017) on state grounds against the 9th Circuit's Bourne Valley due-process challenge. Foundational for any resale-certificate or title disclosure involving Nevada HOA assessment liens.