Ninth Circuit: Nevada Condo Law That Gives Superpriority For Unpaid HOA Assessments Is Preempted By Federal Statute That Protects Freddie Mac

LexisNexis (September 26, 2017, 2:19 PM EDT) -- Over the last five years, we have seen some notable pieces of litigation around the country between "first-priority" real estate mortgages and condo homeowner associations (HOA) armed with state "super-priority" statutory liens for unpaid assessments.  This priority litigation occurs after the owner of a condo or a coop apartment defaults on both the mortgage and the HOA assessments on the condo unit.  Mortgagees are now coming to the realization that their "first-priority" mortgage may be wiped out by a "super-priority" claim of an HOA. A non-judicial...
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