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Homes v. Christiana Trust

Supreme Court of Nevada

July 27, 2017

K&P HOMES, Appellant,
v.
CHRISTIANA TRUST, Respondent.

         Certified question under NRAP 5 concerning the retroactivity of this court's decision in SFR Investments Pool 1, LLC v. U.S. Bank, N.A., 130 Nev., Adv. Op. 75, 334 P.3d 408 (2014). United States District Court for the District of Nevada; Robert C. Jones, Judge.

          Question answered. The Wright Law Group, P.C., and John Henry Wright, Las Vegas, for Appellant.

          Wright, Finlay & Zak, LLP, and Dana Jonathan Nitz and Natalie C. Lehman, Las Vegas, for Respondent.

          Brooks Hubley, LLP, and Michael R. Brooks and Jessica Perlick, Las Vegas, for Amici Curiae Mortgage Bankers Association, Nevada Mortgage Lenders Association, and Nevada Bankers Association.

          Fennemore Craig, P.C., and Leslie Bryan Hart and John D. Tennert, III, Reno; Arnold & Porter Kaye Scholer LLP and Michael A.F. Johnson, Washington, D.C., for Amicus Curiae Federal Housing Finance Agency.

          Wolf, Rifkin, Shapiro, Schulman & Rabkin, LLP, and Bradley S. Schrager and Don Springmeyer, Las Vegas, for Amicus Curiae Community Associations Institute.

         BEFORE THE COURT EN BANC.

          OPINION

          PARRAGUIRRE, J.

         The United States District Court for the District of Nevada has certified, under NRAP 5, the following question to this court: "Does the rule of SFR Investments Pool 1, LLC v. U.S. Bank, N.A., 334 P.3d 408 (Nev. 2014) that foreclosures under NRS 116.3116 extinguish first security interests apply retroactively to foreclosures occurring prior to the date of that decision?" We answer the question in the affirmative and conclude that our holding in the aforementioned matter applies to all foreclosures conducted since NRS 116.3116's inception.

         FACTS AND PROCEDURAL HISTORY

         On May 31, 2013, appellant K&P Homes (K&P) purchased property at a homeowners' association's (HOA) nonjudicial foreclosure sale. Respondent Christiana Trust (Christiana) held a first deed of trust on the property. After the sale, Christiana filed a quiet title action against K&P in federal district court, and K&P filed an answer and counterclaims. Thereafter, Christiana filed a motion to dismiss, arguing that its first deed of trust survived the sale because the sale occurred before this court's decision in SFR Investments Pool 1, LLC v. US. Bank, NA., 130 Nev., Adv. Op. 75, 334 P.3d 408, 419 (2014) (holding that "NRS 116.3116(2) gives an HOA a true superpriority lien, proper foreclosure of which will extinguish a first deed of trust"). K&P filed a countermotion for summary judgment, arguing that SFR applied retroactively.

         The district court granted Christiana's motion and denied K&P's countermotion. In so doing, the district court applied the three-factor test established by the United States Supreme Court in Chevron Oil Co. v. Huson, 404 U.S. 97 (1971), for determining whether a court's holding applies retroactively. Subsequently, K&P filed a motion to certify the question of SFR's applicability to this court, which the district court granted. We now address the question presented.

         DISCUSSION

         Christiana employs the Chevron Oil factors and argues that SFR cannot apply retroactively because (1) this court established a new principle of law, (2) a retroactive application would not further the purposes of NRS 116.3116, and (3) a retroactive application would produce inequitable results. See Chevron Oil, 404 U.S. at 106-07. K&P argues that the Chevron Oil factors do not apply, but rather, this court's analysis in Nevada Yellow Cab Corp. v. ...


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