Form Lis Pendens Foreclosure In Kings
Description
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FAQ
The reason for a Lis Pendens is to alert the world that the house is subject to legal action. That means the house is "frozen" or cannot be sold, refinanced, transferred, until the lawsuit is settled, or the case is tried with a final judgment signed by the judge.
Expunging a Lis Pendens This can happen if the party believes that the lis pendens was improperly filed or if the underlying lawsuit has been resolved. Court Hearing: If a party seeks expungement, the court will conduct a hearing to determine whether the lis pendens should be canceled.
In the case of a foreclosure, a Lis Pendens serves as a legal warning that a lawsuit has been filed and more importantly, it discourages a lender from completing the foreclosure because if its lien is ruled invalid or a qualified purchaser at the foreclosure auction have a sale reversed, the number of prospective ...
Lis Pendens typically finds its place in legal disputes involving real estate. These can include divorce, contract disputes and mortgage default. As an example, consider a divorce case where one spouse may file a lis pendens to block the other from selling the property before its division is settled by the court.
File a request with the court to remove the lis pendens. Provide the legal reasons the lis pendens is improper, offering proof, for example, that the lis pendens affects real estate that is not connected to the litigation. If the lawsuit is frivolous and merely intended to harass the property owner, offer proof.
After a Lis Pendens is filed, it becomes part of the public record, warning anyone interested in the property that it is involved in a legal dispute. The property owner may challenge the Lis Pendens in court, seeking to have it removed if it was improperly filed.
Lis Pendens typically finds its place in legal disputes involving real estate. These can include divorce, contract disputes and mortgage default. As an example, consider a divorce case where one spouse may file a lis pendens to block the other from selling the property before its division is settled by the court.
A lis pendens can only be filed if an action is pending. Additionally, the pending suit must involve real property, such as land and buildings. If these requirements are not met, the notice can be expunged.
No notice of lis pendens shall be effective after five years from the date of its filing.
