The Release of Lis Pendens form is a legal document used to acknowledge the release of a previously recorded lis pendens regarding a foreclosure in Queens. This form serves to cancel the notice of pending litigation, thus officially removing the claim that was made on the property. It is essential for legal professionals to ensure that the form is completed accurately, as it requires details such as the specific location of the recorded lis pendens and the date of release. The target audience, including attorneys, paralegals, and legal assistants, will find this form useful for clearing property titles and facilitating real estate transactions. When filling out the form, users should make sure to include precise identifying information, such as the book and page number where the original lis pendens was recorded. Editing instructions emphasize the importance of correct legal terminology and compliance with state-specific requirements. Additionally, the form allows for the acknowledgment of the receipt of valuable consideration, a crucial aspect in legal proceedings related to property. Overall, this document is vital in the foreclosure process and helps ensure that legal rights are upheld in property transactions.