Claimant's opinion: NRS 598.092 "Deceptive trade practice" defined. A person engages in a "deceptive trade practice" when in the course of his or her business or occupation he or she:
1. Knowingly fails to identify goods for sale or lease as being damaged by water.
2. Solicits by telephone or door to door as a lessor or seller, unless the lessor or seller identifies himself or herself, whom he or she represents and the purpose of his or her call within 30 seconds after beginning the conversation.
3. Knowingly states that services, replacement parts or repairs are needed when no such services, replacement parts or repairs are actually needed.
4. Fails to make delivery of goods or services for sale or lease within a reasonable time or to make a refund for the goods or services, if he or she allows refunds.
5. Advertises or offers an opportunity for investment and:
(a) Represents that the investment is guaranteed, secured or protected in a manner which he or she knows or has reason to know is false or misleading;
(b) Represents that the investment will earn a rate of return which he or she knows or has reason to know is false or misleading;
(c) Makes any untrue statement of a material fact or omits to state a material fact which is necessary to make another statement, considering the circumstances under which it is made, not misleading;
(d) Fails to maintain adequate records so that an investor may determine how his or her money is invested;
(e) Fails to provide information to an investor after a reasonable request for information concerning his or her investment;
(f) Fails to comply with any law or regulation for the marketing of securities or other investments; or
(g) Represents that he or she is licensed by an agency of the State to sell or offrr for sale investments or services for investments if he or she is not so licensed.
6. Charges a fee for advice with respect to investment of money and fails to disclose:
(a) That he or she is selling or offering to lease goods or services and, if he or she is, their identity; or
(b) That he or she is licensed by an agency of any state or of the United States to sell or to offer for sale investments or services for investments or holds any other license related to the service he or she is providing.
7. Notifies any person, by any means, as a part of an advertising plan or scheme, that he or she has won a prize and that as a condition of receiving the prize he or she must purchase or lease goods or services.
8. Knowingly misrepresents the legal rights, obligations or remedies of a party to a transaction.
9. Fails, in a consumer transaction that is rescinded, cancelled or otherwise terminated in accordance with the terms of an agreement, advertisement, representation or provision of law, to promptly restore to a person entitled to it a deposit, down payment or other payment or, in the case of property traded in but not available, the agreed value of the property or fails to cancel within a specified time or an otherwise reasonable time an acquired security interest. This subsection does not apply to a person who is holding a deposit, down payment or other payment on behalf of another if all parties to the transaction have not agreed to the release of the deposit, down payment or other payment.
10. Fails to inform customers, if he or she does not allow refunds or exchanges, that he or she does not allow refunds or exchanges by:
(a) Printing a statement on the face of the lease or sales receipt;
(b) Printing a statement on the face of the price tag; or
(c) Posting in an open and conspicuous place a sign at least 8 by 10 inches in size with boldface letters, specifying that no refunds or exchanges are allowed.
11. Knowingly and willfully violates NRS 597.7118 or 597.7125.
12. Knowingly takes advantage of another person's inability reasonably to protect his or her own rights or interests in a consumer transaction when such an inability is due to illiteracy, or to a mental or physical infirmity or another similar condition which manifests itself as an incapability to understand the language or terms of any agreement. (Added to NRS by 1985, 2256; A 1987, 87; 1993, 1959; 1999, 3281; 2005, 1426; 2009, 2443; 2011, 266)
Complainants incorporate by reference the preceding paragraphs herein above as if fully reproduced and re-written herein. Respondent represented, promised and guaranteed Complainants could short sale their home to Respondent 1 to avoid foreclosure and then re-purchase it back from Respondent 1, earning Respondent 1 interest on the transaction, profit on the repurchase, income via the rental agreement and commissions paid to Respondent, when Respondent knew or reasonably should have known such representation, promise and guarantee were false, untrue, misleading and not correct. Respondent and Respondent 1, both jointly and severally mislead Complainants as to Complainants legal rights concerning the short sale and repurchase of Complainants home from Respondent
1 as stated herein. Respondent 1 has failed to restore Complainant to Complainants original condition and refund Complainants monies in the sum certain amount of $40,800 upon discovery the transaction was illegal and Respondent and Respondent 1 had misled and deceived Complainant into short selling Complainants home to Respondent 1. Complainants had a language inability to understand the language or terms of the agreement. Neither Respondent or Respondent 1 prior to the short sale of Complainants home to Respondent 1 and the payment of $40,800 to Respondent 1 facilitated by Respondent ever advise or inform Complainants of their right to seek legal counsel and have him review and explain Complainants legal rights to them as it related to the transaction and contract complained of herein.
NRS 645F.430 provides: Foreclosure purchasers: Criminal penalty for fraud or deceit against homeowner. A foreclosure purchaser who engages in any conduct that operates as a fraud or deceit upon a homeowner in connection with a transaction that is subject to the provisions of NRS 645F.300 to 645F.450, inclusive, including, without limitation, a foreclosure reconveyance, is guilty of a gross misdemeanor and shall be punished by imprisonment in the county jail for not more than 364 days, or by a fine of not more than $50,000, or by both fine and imprisonment. (Added to NRS by 2007, 2857; A 2009, 1461; 2011, 1578; 2013,
992)
Complainants incorporate by reference the preceding paragraphs herein above as if fully reproduced and re-written herein. Complainants allege and claim Respondent and Respondent 1 acting in concert one with the other in the County of Clark, State of Nevada, on or about February 2014, whereas both Respondent and Respondent 1 knew and or reasonably should have known that misleading Complainants to short sell their home to Respondent 1 for the purpose of reselling the home back to Complainants for profit and gain was unlawful and against the peace and dignity of the State of Nevada. Both Respondent and Respondent 1 made false and untrue assurances and promises to induce and convince Complainants that their motive and goal was to help Complainants stay in their home. Respondent 1, when notified by Complainants the sale was unlawful, rather than refund Complainants money and restoring Complainants to their original position, in refusing to refund Complainants money which Respondent and Respondent 1 took under false pretenses through acts of misrepresentation and deception, Respondent 1 hired an attorney and has placed illusive and unreasonable conditions upon Complainants that upon satisfying Respondent 1's demands, the funds conditionally would be refunded. Respondent l 's attorney did not inform Complainants they would receive their $40,800.00 back upon satisfaction of Respondent 1's illusory and unreasonable demands.
NRS 645F.440 holds: Foreclosure purchasers: Transaction rescinded due to fraud or deceit upon homeowner.
1. In addition to the penalty provided in NRS 645F.430 and except as otherwise provided in subsection 5, if a foreclosure purchaser engages in any conduct that operates as a fraud or deceit upon a homeowner in connection with a transaction that is subject to the provisions of NRS 645F.300 to 645F.450, inclusive, including, without limitation, a foreclosure reconveyance, the transaction in which the foreclosure purchaser acquired title to the residence in foreclosure may be rescinded by the homeowner within 2 years after the date of the recording of the conveyance.
2. To rescind a transaction pursuant to subsection 1, the homeowner must give written notice to the foreclosure purchaser and a successor in interest to the foreclosure purchaser, if the successor in interest is not a bona fide purchaser, and record that notice with the recorder of the county in which the property is located. The notice of rescission must contain:
(a) The name of the homeowner, the foreclosure purchaser and any successor in interest who holds title to the property; and
(b) A description of the property.
3. Within 20 days after receiving notice pursuant to subsection 2:
(a) The foreclosure purchaser and the successor in interest, if the successor in interest is not a bona fide purchaser, shall reconvey to the homeowner title to the property free and clear of encumbrances which were created subsequent to the rescinded transaction and which are due to the actions of the foreclosure purchaser; and
(b) The homeowner shall return to the foreclosure purchaser any consideration received from the foreclosure purchaser in exchange for the property .
4. If the foreclosure purchaser has not reconveyed to the homeowner title to the property within the period described in subsection 3, the homeowner may bring an action to enforce the rescission in the district court of the county in which the property is located.
5. A transaction may not be rescinded pursuant to this section if the foreclosure purchaser has transferred the property to a bona fide purchaser.
6. As used in this section, "bona fide purchaser" means any person who purchases an interest in a residence in foreclosure from a foreclosure purchaser in good faith and for valuable consideration and who does not know or have reasonable cause to believe that the foreclosure purchaser engaged in conduct which violates subsection 1. (Added to NRS by 2007, 2857; A 2009, 1461; 2011, 1579)
Complainants incorporate by reference the preceding paragraphs herein above as if fully reproduced and re-written herein. Upon Complainants discovery Respondent
1 could not purchase and resell Complainants home to Complainants, Complainants allege Respondent 1 violated the provisions of NRS 645F.440 when Respondent 1 failed to reonvey Complainants home back to Complainants within the twenty (20) day time period specified under NRS 645F.440 or refunding Complainants monies.
Complainants further claim that Respondent 1 acted with knowledge as did Respondent upon committing the fraud upon Complainants. Respondent 1 and Respondent knew Complainants were experiencing temporary financial difficulties and were facing foreclosure before the short sale took place. Respondent and Respondent1 went to great lengths to convince Complainants they could re purchase their home back after short selling Complainants to Respondent 1, when such was false and untrue.
NRS 645F.420 Homeowner may bring action to recover damages.
1. A homeowner who is injured as a result of a person's violation of a provision of NRS 645F.400 may bring an action against the person to recover damages caused by the violation, together with reasonable attorney's fees and costs.
2. If the homeowner prevails in the action, the court may award such punitive damages as may be determined by a jury, or by a court sitting without a jury, but in no case may the punitive damages be less than one and one-half times the amount awarded to the homeowner as actual damages. (Added to NRS by 2007, 2857; A 2011, 3643)
Respondent provided Complainants documents to withdraw money from Complainants 401K to give to Respondent 1.
Complainants incorporate by reference the preceding paragraphs herein above as if fully reproduced and re-written herein. Respondent did Complainants short sale as
Complainants agent; Respondents loyalty, however, was more on Respondent 1 (the investor). Claimants know that Respondent works for commission and understand perfectly, Respondent needs to earn a living too. But Respondent had responsibilities to be honest, truthful and to look after Respondent's client's welfare and best interests. Respondent does not need to entice and mislead people causing them financial and emotional injury and harm.
NRS 645F.445 sets forth: Person with knowledge of violation prohibited from providing assistance or support to foreclosure consultant, loan modification consultant or person performing covered services for compensation. A person who knows or reasonably should know that another person who performs any covered service for compensation, a foreclosure consultant or a loan modification consultant is in violation of any provision of NRS 645F.300 to 645F.450, inclusive, and any regulations adopted pursuant thereto shall not provide substantial assistance or support to the person who performs any covered service for compensation, the foreclosure consultant or the loan modification consultant. (Added to NRS by 2011, 1576)
Complainants incorporate by reference the preceding paragraphs herein above as if fully reproduced and re-written herein. Complainants allege and claim that Respondent 1 as a real estate investor knew, or reasonably should have known that Respondent 1 could not purchase Complainants home and resell it back to them. Respondent 1 enabled, assisted and acted in concert with Respondent to deceive Complainants that they could repurchase their home that was sold via short sale to Respondent 1. Respondent 1 by providing Respondent with the financing to make an illusory offer and close the deal on Complainants home through misrepresentation and misleading Complainants, Respondent 1 violated the provisions set forth under NRS 645F.445.