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U.S. Bank, N.A. v. LV Real Estate Strategic Investment Group, LLC, 2:17-cv-00355-MMD-BNW. (2020)

Court: District Court, D. Nevada Number: infdco20200225b07 Visitors: 8
Filed: Feb. 24, 2020
Latest Update: Feb. 24, 2020
Summary: PLAINTIFF'S [PROPOSED] ORDER ON MOTIONS FOR SUMMARY JUDGMENT MIRANDA M. DU , District Judge . Plaintiff U.S. Bank, N.A., As Trustee For The Certificateholders of Banc of America Funding 2008-FT1 Trust, Mortgage Pass-Through Certificates, Series 2008-FT1 ( U.S. Bank ) filed a motion for summary judgment (ECF No. 80), to which Defendant LV Real Estate Strategic Investment Group LLC Series 211 ( LVRES ) responded (ECF No. 88), U.S. Bank replied (ECF No. 92), and Rainbow Villas Condominium Asso
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PLAINTIFF'S [PROPOSED] ORDER ON MOTIONS FOR SUMMARY JUDGMENT

Plaintiff U.S. Bank, N.A., As Trustee For The Certificateholders of Banc of America Funding 2008-FT1 Trust, Mortgage Pass-Through Certificates, Series 2008-FT1 (U.S. Bank) filed a motion for summary judgment (ECF No. 80), to which Defendant LV Real Estate Strategic Investment Group LLC Series 211 (LVRES) responded (ECF No. 88), U.S. Bank replied (ECF No. 92), and Rainbow Villas Condominium Association (HOA) filed a joinder (ECF No. 94) to U.S. Bank's reply.

The Court has also reviewed Defendant LVRES's motion for summary judgment (ECF No. 81), U.S. Bank's response (ECF No. 90), and LVRES's reply (ECF No. 91).

The Court takes judicial notice of certain exhibits attached to Plaintiff U.S. Bank's motion for summary judgment (ECF No. 80).

The Court heard oral arguments on the motions on February 14, 2020. Darren Brenner appeared for U.S. Bank. Mike Beede appeared for LVRES.

Because the loan servicer, Bank of America, tendered payment for the HOA's entire lien in 2009, the senior deed of trust was unaffected by the HOA's eventual foreclosure sale, meaning those who took title after the HOA foreclosure sale, including LVRES, took title subject to the deed of trust.

Accordingly, Plaintiff U.S. Bank's motion for summary judgment (ECF No. 80) is granted in part to the extent of its request for declaratory relief that the HOA sale did not extinguish the deed of trust, which deed of trust was recorded with the Clark County Recorder as Instrument No. 20060615-0004185. Defendant LVRES's motion for summary judgment is denied. The remaining claims are dismissed as moot.

IT IS SO ORDERED.

Source:  Leagle

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