Las Vegas Condominium Bank Foreclosure, Who pays HOA's
I am moving to Las Vegas shortly. I have perused the " Nevada foreclosure laws" but, have not been able to identify how the HOA's are dealt with after I have bought the condominium from a mortgage foreclosed trustee auction. In Washington the HOA's are only entitled to up to six months of past HOA's. Can someone point me to the (Law that has precedence) over the Mortgage Foreclosure law and NOT THE HOA FORECLOSURE LAW... Thank you
Generally speaking (since I am not a Nevada attorney), the HOA fees should have super-priority and should cloud title in a "normal" sale. Typically a seller agrees to produce marketable title at closing, which would force them to pay off the lien either prior to close or with part of the proceeds of the purchase.
However, bank and tax lien foreclosures are almost always sold "as-is, where-is," warts and all.
What does your P&S say?