Lis pendens means "a suit pending". A lis pendens is a written notice that a lawsuit has been filed involving the title to real property or some interest in that real property. Notice to the defendant who owns the property and potential buyers or financiers is given by filing the lis pendens with the clerk of the court, certifying that it has been filed, and then recording it with the County Recorder. The lis pendens must include a legal description of the real property, and the lawsuit must involve the property.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Arkansas Li's Pendent Notice in Connection with Action to Foreclose serves as a public notice disclosing a pending legal action related to a foreclosure proceeding in the state of Arkansas. When a foreclosure action is initiated, the party initiating the action may file a Li's Pendent Notice to inform potential buyers, lenders, or any interested parties about the pending lawsuit affecting the property in question. This notice is crucial because it provides a warning to third parties that the property is under legal scrutiny and may be subject to a foreclosure sale. By filing the Arkansas Li's Pendent Notice, the claimant creates a legal cloud on the property's title, making it difficult for the property owner to transfer or sell the property while the foreclosure action is ongoing. There are different types of Arkansas Li's Pendent Notices in Connection with Action to Foreclose, categorized by the type of foreclosure being pursued: 1. Judicial Li's Pendent Notice: If the foreclosure action is pursued through a judicial process, the party initiating the foreclosure will file a Judicial Li's Pendent Notice with the appropriate court. This notice will contain details of the pending foreclosure lawsuit, including the court case number, parties involved, and a brief description of the underlying dispute. 2. Non-Judicial Li's Pendent Notice: In cases where the foreclosure action is pursued through a non-judicial process, the party initiating the foreclosure will file a Non-Judicial Li's Pendent Notice with the county recorder's office where the property is situated. This notice will provide specific information about the pending foreclosure process, such as the date and location of the foreclosure sale. 3. Li's Pendent Notice of Li's Pendent Expungement: If the foreclosure action is resolved, dismissed, or otherwise concluded, the party who initially filed the Li's Pendent Notice may file a Notice of Li's Pendent Expungement. This notice is submitted to the court or county recorder's office where the Li's Pendent Notice was originally filed, requesting the removal of the cloud on the property's title. Overall, the Arkansas Li's Pendent Notice in Connection with Action to Foreclose serves as an essential tool to notify interested parties about pending foreclosure actions and secure the claimant's rights during the legal proceedings.
