Nevada restricts HOA "superpriority" liens

12/18/2012 | Las Vegas Review-Journal

Nevada HOAs' "superpriority" liens are limited to nine months or less of assessments and cannot include costs of collecting, the state's Real Estate Division says. "So basically what they are saying is HOA management and collection companies have been misleading their HOAs the last several years," says Rutt Premsrirut, attorney for investors. "They have been overcharging banks and investors hundreds of millions dollars on superpriority liens for their own benefit."

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