Saticoy Bay LLC Series 9050 W Warm Springs 2079 v. Nev. Ass'n Servs.

Summary

The Nevada Supreme Court considered whether a homeowner validly redeemed property after a homeowners' association foreclosure sale under NRS 116.31166. The court held that the homeowner substantially complied with the redemption notice requirement and that the redemption payment was valid despite the use of sale proceeds held by the foreclosure-sale agent, affirming summary judgment in the homeowner's favor.

Holdings

1. Markey complied with NRS 116.31166(3) because, under the circumstances, he was entitled to use the excess foreclosure-sale proceeds held by Nevada Association Services to satisfy the redemption amount, and the sale agent could tender that amount on his behalf.
2. Substantial compliance, rather than strict compliance, is sufficient under NRS 116.31166(4). Markey substantially complied because Saticoy Bay had actual knowledge of his intent and authority to redeem and suffered no prejudice from the absence of a certified copy of the deed.

Questions Presented

1. Whether Markey complied with NRS 116.31166(3) when Nevada Association Services used foreclosure-sale proceeds held in trust, together with Markey's funds, to tender the redemption amount.
2. Whether Markey's failure to provide a certified copy of his deed with his redemption notice rendered the redemption invalid under NRS 116.31166(4), or whether substantial compliance was sufficient.

Disposition

affirmed