Nevada Supreme Court rules in favor of investors, banks in HOA fees case | Las Vegas Review-Journal: "CARSON CITY — The Nevada Supreme Court on Thursday ruled in a long-awaited dispute over homeowner association dues in super-priority lien cases, finding that Nevada law does not allow for the collection of costs and fees in addition to nine months of back-owed assessments.
The unanimous ruling came in an appeal brought by Horizons at Seven Hills Homeowners Association against Ikon Holdings.
The ruling is a major victory for investors, banks and others who acquired the foreclosed properties. It is a big loss for homeowners associations, collection agencies and others who sought additional compensation in the super-priority lien process.
The super-priority lien in Nevada law allows associations to recover nine months’ worth of assessments. But a legal dispute has been ongoing for years over whether fees and collection costs could be included as part of the lien."
Superlien litigation (and legislation) is hot right now. Lending institutions are slugging it out with the community association industry over the wreckage of people's lives.