SFR Investments Pool 1, LLC v. U.S. Bank N.A.

The Supreme Court denied a petition for rehearing of an order affirming the judgment of the district court in the underlying quiet title action, holding that this Court did not overlook or misapprehend any material fact in the record.

Nev. Rev. Stat. 106.240 provides that ten years after a debt secured by a lien on real property has become "wholly due" and has remained unpaid, "it shall be conclusively presumed that the debt has been regularly satisfied and the lien discharged." At issue was what effect a notice of rescission has on the statute's ten-year time frame when it is recorded after a notice of default. The Supreme Court affirmed the judgment in this case consistent with its unpublished decision in Glass v. Select Portfolio Servicing, Inc., No. 78325, 2020 WL 3604042 at *1 (Nev. July 1, 2020). Appellant sought rehearing. The Supreme Court denied rehearing, holding that the Court did not overlook or misapprehend any material facts.