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JPMorgan Chase Bank, N.A. v. SFR Investments Pool 1, LLC

United States District Court, D. Nevada

May 12, 2017

JPMORGAN CHASE BANK, N.A., Plaintiff,
v.
SFR INVESTMENTS POOL 1, LLC, a Nevada limited liability company; MONTAGNE MARRON COMMUNITY ASSOCIATION, a Nevada non-profit corporation; RODRIGO J. COLOMA, an individual; NICOLE E. COLOMA, an individual, Defendants. SFR INVESTMENTS POOL 1, LLC, a Nevada limited liability company, Counterclaimant/Cross-Claimant,
v.
JPMORGAN CHASE BANK, N.A., a national banking association; RODRIGO J. COLOMA, an individual, Counter-Defendant/Cross-Defendant.

          BALLARD SPAHR LLP Abran E. Vigil, Esq. Russell J. Burke, Kyle A. Ewing, Attorneys for JPMorgan Chase Bank, N.A.

          KIM GILBERT EBRON, Diana Cline Ebron, Jacqueline A. Gilbert, Karen L. Hanks, Attorneys for SFR Investments Pool 1, LLC

          THE CLARKSON LAW GROUP, P.C., Matthew J. McAlonis, Esq. Attorney for Montagne Marron Community Association

          JOINT STIPULATION AND ORDER TO STAY LITIGATION

         STIPULATION AND ORDER TO STAY LITIGATION

         Plaintiff/Counter-defendant JPMorgan Chase Bank, N.A. (“Chase”), Defendant/Counterclaimant/Cross-Claimaint SFR Investments Pool I, LLC (“SFR”), and Defendant Montagne Marron Community Association (the “HOA”) (collectively, the “Parties”)[1], hereby stipulate and agree as follows:

         1. This is a quiet title action arising from a homeowners' association foreclosure sale (the “Sale”) of residential property located at 11208 Lavandou Drive, Las Vegas, Nevada (the “Property”).

         2. Alessi & Koenig, LLC, as agent for the HOA, conducted the Sale pursuant to NRS Chapter 116.

         3. Chase alleges it is the beneficiary of a deed of trust recorded against the Property. Chase contends that the deed of trust survived the Sale or, alternatively, that the Sale was void.

         4. SFR contends the Sale extinguished the deed of trust as a matter of law.

         5. Chase added the HOA as a necessary party to the action due to its role in the Sale.

         6. Chase argues, among other things, that the notice provisions of NRS Chapter 116 are facially unconstitutional under the Due Process Clause of the Fourteenth Amendment.

         7. In Bourne Valley Court Trust v. Wells Fargo Bank, NA, 832 F.3d 1154 (9th Cir. 2016), the Ninth Circuit Court of Appeals accepted this argument and held that Chapter 116's notice provisions facially violate due process by requiring purported junior lienholders to “opt in” for notice of a homeowners' association foreclosure sale.

         8. In Saticoy Bay LLC Series 350 Durango 104 v. Wells Fargo Home Mortg., 388 P.3d 970, 972 (Nev. 2017), the Nevada Supreme Court disagreed with Bourne Valley by holding that a foreclosure sale under Chapter 116 does not involve sufficient state action to implicate the Due Process Clause of the Fourteenth Amendment. See Id. The non-prevailing party in Bourne Valley petitioned the United States Supreme Court for certiorari on or about April 5, 2017.

         9. The Parties request a stay of litigation to allow the United States Supreme Court to address the ...


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