Wells Fargo Bank, N.A. v. Radecki

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The Supreme Court affirmed the district court’s determination that Appellant’s deed of trust was extinguished by a valid foreclosure sale, holding that the district court properly concluded that the foreclosure sale should not be invalidated on equitable grounds, the sale did not constitute a fraudulent transfer, and the foreclosure should not be invalidated due to an irregularity in the foreclosure deed. The case concerned the competing rights to property that was purchased at a homeowners’ association foreclosure sale. Appellant was the beneficiary of a deed of trust on that property at the time of the sale. Respondent was the winning bidder at the sale. After a bench trial to determine whether Respondent or Appellant had superior title to the property, the district court quieted title in favor of Respondent, holding that Appellant’s deed of trust was extinguished pursuant to SFR Investments Pool 1, LLC v. U.S. Bank, N.A., 334 P.3d 408 (Nev. 2014). The Supreme Court affirmed, holding (1) there was no unfairness or irregularity in the foreclosure process, and therefore, the district court correctly rejected Appellant’s equitable argument; (2) the foreclosure sale did not constitute a fraudulent transfer under the Uniform Fraudulent Transfer Act; and (3) an irregularity in the foreclosure deed upon sale does not invalidate the foreclosure as a whole. View "Wells Fargo Bank, N.A. v. Radecki" on Justia Law