SFR Investments Pool 1, LLC v. Bank of America, N.A., 011521 NVCA, 78112-COA

Docket Nº78112-COA
Opinion JudgeGIBBONS, C.J.
Party NameSFR INVESTMENTS POOL 1, LLC, A NEVADA LIMITED LIABILITY COMPANY, Appellant, v. BANK OF AMERICA, N.A., A NATIONAL ASSOCIATION; AND DEUTSCHE BANK NATIONAL TRUST COMPANY, AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF THE VENDEE MORTGAGE TRUST 2010-1, Respondents.
Judge PanelTao, J. Bulla, J.
Case DateJanuary 15, 2021
CourtCourt of Appeals of Nevada

SFR INVESTMENTS POOL 1, LLC, A NEVADA LIMITED LIABILITY COMPANY, Appellant,

v.

BANK OF AMERICA, N.A., A NATIONAL ASSOCIATION; AND DEUTSCHE BANK NATIONAL TRUST COMPANY, AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF THE VENDEE MORTGAGE TRUST 2010-1, Respondents.

No. 78112-COA

Court of Appeals of Nevada

January 15, 2021

UNPUBLISHED OPINION

ORDER OF AFFIRMANCE

GIBBONS, C.J.

SFR Investments Pool 1, LLC (SFR), appeals from a district court final judgment in an interpleader and quiet title action. Eighth Judicial District Court, Clark County; Kerry Louise Farley, Judge.

The original owners of the subject property failed to make periodic payments to their homeowners' association (HOA). The HOA recorded a notice of delinquent assessment lien and later a notice of default and election to sell to collect on the past due assessments and other fees pursuant to NRS Chapter 116. Prior to the sale, counsel for respondent Bank of America, N.A., which is the predecessor to the holder of the first deed of trust on the property-respondent Deutsche Bank National Trust Company (collectively referred to herein as Deutsche Bank)-tendered payment to the HOA foreclosure agent for an amount equal to nine months of the HOA's assessments. The agent rejected the tender, however, and proceeded with the foreclosure sale, at which SFR purchased the property.

The agent then filed the underlying interpleader action to distribute the proceeds from the sale among all interested parties. During the course of the action, SFR and Deutsche Bank both sought to quiet title to the property and eventually filed competing motions for summary judgment. The district court ruled in Deutsche Bank's favor, finding that the tender satisfied the superpriority portion of the HOA's lien such that SFR took title to the property subject to Deutsche Bank's deed of trust. This appeal followed.

This court reviews a district court's order granting summary judgment de novo. Wood v. Safeway, Inc., 121 Nev. 724, 729, 121 P.3d 1026, 1029 (2005). Summary judgment is proper if the pleadings and all other evidence on file demonstrate that no genuine issue of material fact exists and that the moving party is entitled to judgment as a matter of law. Id. When deciding a summary judgment motion, all evidence must be viewed in a light most favorable to the nonmoving party. Id. General allegations and conclusory statements do not create genuine...

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