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LVBK, LLC v. Bank of America, N.A.

United States District Court, D. Nevada

March 16, 2019

LVBK, LLC, a Nevada limited liability company, Plaintiff,
v.
BANK OF AMERICA, N.A.; DOES I through X and ROE CORPORATIONS I through X, Defendants.

          ORDER

          RICHARD F. BOULWARE, II, UNITED STATES DISTRICT JUDGE

         I. INTRODUCTION

         Before the Court is Defendant Bank of America, N.A.'s Motion for Judgment on the Pleadings under Federal Rule of Civil Procedure 12(c). ECF No. 15. For the reasons discussed herein, the Court dismisses the matter without prejudice and grants Plaintiff leave to move to reopen the matter after seeking clarification from the bankruptcy court on the at-issue bankruptcy orders.

         II. PROCEDURAL BACKGROUND

         Plaintiff sued Defendant in state court on February 28, 2018, alleging a single claim for declaratory relief to quiet title of a property. ECF No. 1-1. Defendant removed the matter to this Court on April 13, 2018 and answered the Complaint on May 7, 2018. ECF Nos. 1, 8. A Scheduling Order was entered on June 28, 2018. ECF No. 12.

         Defendant now moves for Judgment on the Pleadings. ECF No. 15. Plaintiff opposed the motion, and Defendant replied. ECF Nos. 20, 23. The Court stayed this matter, per the parties' stipulation, pending resolution of the pending motion. ECF Nos. 25, 26.

         III. FACTUAL BACKGROUND[1]

         This matter centers on the parties' interest in a property located at 3261 Bridge House, North Las Vegas, Nevada 89032.

         In 2007, a deed of trust was recorded against the property. The deed of trust secured a promissory note executed by nonparty Alfredo Sanchez. On February 7, 2011, Sanchez filed a Chapter 7 Bankruptcy petition. The property was listed in the petition as a secured claim in the amount of $255, 959.00. Sanchez was discharged from the bankruptcy matter on July 11, 2011.

         Then, on April 24, 2014, the bankruptcy trustee moved to sell the property subject to all liens and encumbrances. Bankruptcy Judge Nakagawa granted the motion, imposing the following specific conditions:

Upon payment of the [final price at the auction of the property], the Trustee will provide the [buyer] with a Declaration of Value and a Trustee's Quitclaim Deed …; these Documents, along with this Order, must be recorded with the Clark County Recorder's Office no later than 14 days after delivery to the [buyer]. By accepting the Documents, the [buyer] agrees that it is solely responsible for ensuring this timely recordation and for presenting evidence of this timely recordation to the Trustee within 20 days of the delivery. Failure to timely record shall automatically void the [sale] and the Documents delivered, meaning any later attempt to record them after the 14 days has expired shall provide the [buyer] with no legal basis to successfully transfer the estate's interest in the Property. Failure to timely record shall also automatically result in a complete forfeiture to the estate of all monies paid by the [buyer].

         Plaintiff purchased the property on June 9, 2014. On August 1, 2014, Judge Nakawaga signed an amended order to confirm that the debtor and Sanchez were the same individual. Judge Nakawaga explained via a footnote that the amended order was entered because Plaintiff could not record the deed of trust from the sale due to the variance in spelling of Sanchez's name on relevant documents. On August 28, 2014, Plaintiff then recorded the quitclaim deed, which was dated August 1, 2014. Thus, the quitclaim deed was recorded twenty-seven days after Judge Nakawaga's amended order was entered and after the date the quitclaim deed was executed. Plaintiff did not record the Bankruptcy Order or Amended Order.

         On November 21, 2014, Plaintiff filed a Chapter 11 Bankruptcy petition. The property was listed as a secured claim in the petition. On March 26, 2015, Plaintiff moved to cramdown the first deed of trust. The notice of the motion did not include mailing to the proper Bank of America address listed on the first deed of trust. The motion was granted as unopposed on April 27, 2015, stating that the first deed of trust is partially unsecured beyond $56, 000.00. Plaintiff's Second Amended Plan of Reorganization was later approved on October 21, 2016, which lists the value of the property at $56, 000.00. Defendant never disputed Plaintiff's ownership in the property during Plaintiff's nor Sanchez's bankruptcy proceedings. Rather, Defendant reviewed and approved through its counsel the Bankruptcy Court's Order approving the Amended Plan of Reorganization. Defendant did so despite previously objecting to the confirmation of Plaintiff's proposed plan of reorganization as it related to another property.

         IV. ...


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