Of particular interest to condominium association board members and parties thinking about purchasing a foreclosure sales of condominium units:
We recently reported on a July 2017 Nevada Supreme Court case on a dispute between a condominium association and a loan holder regarding the priority of their liens. The lender unsuccessfully claimed that their lien was prior due to "preemption".
In August 2017, in a long anticipated decision, the Ninth Circuit Court of Appeals, governing Washington and other western states, decided a similar case involving a loan held by the Federal Housing Finance Agency. The decision could impact around half of the units with defaulted home loans and overdue association assessments.
And the Court decided....tune in to find out!