Prof-2013-S3 Legal Title Trust V, By U.S. Bank National Association v. Flying Frog Avenue Trust
Prof-2013-S3 Legal Title Trust V, By U.S. Bank National Association v. Flying Frog Avenue Trust
Trial Court Opinion
1 2 3 4 UNITED STATES DISTRICT COURT 5 DISTRICT OF NEVADA 6 * * *
7 PROF-2013-S3 LEGAL TITLE TRUST V, Case No. 2:17-CV-1933 JCM (GWF) BY U.S. BANK NATIONAL ASSOCIATION, 8 AS LEGAL TITLE TRUSTEE, ORDER
9 Plaintiff(s),
10 v.
11 FLYING FROG AVENUE TRUST, et al., et al., 12 Defendant(s). 13
14 Presently before the court is the matter of Prof-2013-S3 Legal Title Trust V, By U.S. Bank 15 National Association v. Flying Frog Avenue Trust, case number 2:17-cv-01933-JCM-GWF. On 16 September 19, 2018, this court granted defendant Red Rock Financial Services, LLC’s (“Red 17 Rock”) motion to dismiss and defendant Flying Frog Avenue Trust’s (“Flying Frog”) motion for 18 summary judgment. (ECF No. 59). The court denied plaintiff Prof-2013-S3 Legal Title Trust V 19 by U.S. Bank National Association as Legal Title Trustee’s (“U.S. Bank”) motion for summary 20 judgment. Id. Thus, the court quieted title in Flying Frog’s favor and entered judgment 21 accordingly. Id.; (see also ECF No. 60). U.S. Bank appealed. (ECF No. 61). 22 Relying on Bank of Am., N.A. v. SFR Invs. Pool 1, LLC,
427 P.3d 113, 117–18 (Nev. 2018) 23 (“Diamond Spur”) (en banc), and Bank of Am., N.A. v. Arlington W. Twilight Homeowners Ass’n, 24
920 F.3d 620, 623(9th Cir. 2019) (per curiam), both of which were decided after this court’s order, 25 the Ninth Circuit reversed this court’s decision. (ECF No. 63). The Ninth Circuit held that U.S. 26 Bank’s predecessor tendered the amount necessary to preserve its interest.
Id.at 2–3. As a result, 27 28 1} the valid tender discharged the superpriority amount of the HOA’s lien, and U.S. Bank’s first 2 | security interest survived the foreclosure sale. Id. at 3. 3 Accordingly, 4 IT IS HEREBY ORDERED, ADJUDGED, and DECREED that the court’s prior order 5 (ECF No. 59) be, and the same hereby is, VACATED. 6 IT IS FURTHER ORDERED that U.S. Bank’s motion for summary judgment (ECF No. 7 | 46) be, and the same hereby is, GRANTED. 8 IT IS FURTHER ORDERED that Flying Frog’s motion for summary judgment (ECF No. 9 | 45) be, and the same hereby is, DENIED. 10 IT IS FURTHER ORDERED that Red Rock’s motion to dismiss (ECF No. 19) be, and the 11.) same hereby is, GRANTED.! 12 IT IS FURTHER ORDERED that defendant Flying Frog’s motion to dismiss (ECF No. 13 21) be, and the same hereby is, DENIED as moot. 14 The clerk is instructed to enter judgment quieting title in U.S. Bank’s favor. 15 DATED June 12, 2020. 16 tis ©. Atala 7 UNITED STATES DISTRICT JUDGE 18 19 20 21 22 23 24 25 26 27 28 ' The parties did not challenge this court’s order as it pertains to Red Rock’s motion to dismiss. (See generally ECF No. 63). es C. Mahan District Judge _2-
Reference
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