Moore v. Prestige Default Services, 2:23-cv-01191

Plaintiff Robert Moore purchased residential property in Las Vegas in 2005 with a $1,000,000 loan secured by a deed of trust.
After defaulting on the loan in 2009, a Notice of Default was recorded, with subsequent notices/rescissions over the years.
The deed of trust was assigned to the Bank of New York Mellon in 2010.
Plaintiff filed this federal action for quiet title, injunctive, and declaratory relief, claiming the deed of trust was extinguished by operation of Nevada law after ten years.
Defendants moved to dismiss, arguing that recent Nevada Supreme Court decisions foreclose plaintiff's interpretation of the relevant statute (NRS 106.240).

Issue	Plaintiff's Argument	Defendant's Argument	Held
Whether the 2009 Notice of Default triggered NRS 106.240’s 10-year extinguishment period	Moore: The 2009 Notice of Default made the loan "wholly due," beginning the statute's 10-year period.	Bank: Nevada law and Supreme Court precedent hold a notice of default does not make a loan "wholly due" under NRS 106.240.	Notice of default does not trigger the 10-year period; claim dismissed.
Relevance of deed of trust language to acceleration	Moore: The language in his deed of trust accelerates the loan upon default.	Bank: Even with accelerating language in the deed, the statute and case law require more, including a cure period not waived by the notice.	Deed language does not override statute or controlling precedent.
Sufficiency of complaint under Rule 12(b)(6)	Moore: Alleged facts support a plausible claim for extinguishment and quiet title.	Bank: Complaint fails as a matter of law under clear Nevada authority.	Complaint fails to state a claim; dismissal with prejudice.
Entitlement to injunctive and declaratory relief	Moore: If underlying claim is valid, entitled to relief.	Bank: No basis for relief when quiet title claim fails.	No basis for equitable relief; dismissed with prejudice.

SFR Invs. Pool 1, LLC v. U.S. Bank, N.A., 507 P.3d 194 (Nev. 2022) (explains how NRS 106.240 operates to extinguish liens after 10 years if the debt is wholly due)
Pro-Max Corp. v. Feenstra, 16 P.3d 1074 (Nev. 2001) (clarifies that NRS 106.240 requires a debt to be wholly due and unpaid for 10 years to extinguish a deed of trust)
LV Debt Collect, LLC v. Bank of New York Mellon as Tr. for Certificateholders of CWMBS, Inc., 534 P.3d 693 (Nev. 2023) (notice of default does not trigger the 10-year extinguishment period under NRS 106.240)