Resources Group, LLC v. Nevada Ass’n Services, IncAnnotate this Case
The Supreme Court reversed the decision of the district court setting aside a nonjudicial foreclosure sale by a unit-owners’ association (UOA), holding that title vested in the purchaser’s name and that there were no equitable grounds to set aside the sale.
At issue in this appeal was whether a person conducting a sale under Nev. Rev. Stat. 116, governing nonjudicial foreclosure sales by a UOA, has the discretion to refuse to issue a foreclosure deed to the highest bidder at the sale after payment has been made when it is later determined that the delinquency amount may have been paid by the property owner before the sale. The Supreme Court held (1) each party in a quiet title action has the burden of demonstrating superior title in himself; (2) once a bid is accepted and payment is made, the foreclosure sale is complete and title vests in the purchaser; and (3) the standard for determining whether to set aside a sale on equitable grounds is whether there has been a showing of fraud, unfairness, or oppression affecting the sale. In the instant case, the purchaser in this case demonstrated superior title, and there were no equitable grounds to set aside the sale.