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JPMorgan Chase Bank, N.A. v. Saticoy Bay LLC Series 7517 Apple Cider

United States District Court, D. Nevada

September 25, 2019

JPMORGAN CHASE BANK, N.A., Plaintiff,
v.
SATICOY BAY LLC SERIES 7517 APPLE CIDER, a Nevada limited liability company; ELKHORN COMMUNITY ASSOCIATION, a Nevada non-profit corporation; JOHN CHERRY, an individual; and MARIA CHERRY, an individual, Defendants.

          ORDER

          RICHARD F. BOULWARE, II UNITED STATES DISTRICT JUDGE

         I. INTRODUCTION

         Before the Court are three motions: Defendant Saticoy Bay LLC Series 7517 Apple Cider’s (“Saticoy Bay) motion to dismiss, ECF No. 30; Saticoy Bay’s motion for summary judgment, ECF No. 31; and Plaintiff JPMorgan Chase Bank, N.A.’s (“Chase”) motion for summary judgment, ECF No. 32. For the following reasons, the Court grants Saticoy Bay’s motion to dismiss and motion for summary judgment in part and denies Chase’s motion for summary judgment in its entirety.

         II. PROCEDURAL BACKGROUND

         This matter arises from a nonjudicial foreclosure sale conducted under Chapter 116 of the Nevada Revised Statutes (“NRS”) on November 19, 2013. See ECF No. 1. On November 28, 2017, Chase sued Defendants, asserting three claims: (1) declaratory judgment, (2) quiet title, and (3) unjust enrichment. Id. Chase bases its declaratory judgment claim on alleged constitutional violations, statutory violations regarding NRS Chapter 116, and principles of equity. Chase ultimately seeks an order declaring the foreclosure sale void or declaring that its interest in the property was not extinguished by the foreclosure sale. Id.

         After preliminary motion practice, this matter was stayed on July 12, 2018 until the Nevada Supreme Court resolved the certified question in SFR Investments Pool 1, LLC v. Bank of New York Mellon, 422 P.3d 1248 (Nev. 2018). ECF No. 27. The stay was lifted a month later. ECF No. 29.

         Saticoy Bay now moves to dismiss the complaint. ECF No. 30. Chase opposed the motion, and Saticoy Bay replied. ECF Nos. 33, 34.

         Saticoy Bay also moves for summary judgment. ECF No. 31. Chase opposed the motion. ECF No. 37. Saticoy Bay then replied. ECF No. 44.

         Chase submits a competing motion for summary. ECF No. 32. Saticoy Bay and Defendant Elkhorn Community Association opposed the motion, and Chase replied. ECF Nos. 35–36, 41.

         III.MOTION TO DISMISS

         The Court first resolves Saticoy Bay’s motion to dismiss.

         a. Factual Allegations

          John Cherry and Donna Cherry obtained a loan to purchase the property at 7517 Apple Cider Street, Las Vegas, Nevada 89131. The loan was secured by a deed of trust that was recorded with the Clark County Recorder’s Office on November 12, 2009. Chase is the beneficiary of the deed of trust.

         The Elkhorn Community Association foreclosed on the property on November 19, 2013. FGC SFR Holdings, LLC purchased the property at the foreclosure but later conveyed its interests to Saticoy Bay. The parties dispute whether the nonjudicial ...


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