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.
Connecticut Li's Pendent Notice in Connection with Action to Foreclose: A Detailed Description Keywords: Connecticut Li's Pendent Notice, Action to Foreclose, property foreclosure, real estate litigation, legal document, property title, encumbrance notice. Description: The Connecticut Li's Pendent Notice in Connection with Action to Foreclose is a crucial legal document filed in the state of Connecticut to provide notice of a pending foreclosure action on a property. A Li's Pendent, which translates to "suit pending" in Latin, is a public notice that alerts anyone researching the property's title about the ongoing foreclosure proceedings. When a property owner fails to meet their mortgage obligations or defaults on loan payments, the lender or mortgage holder initiates legal proceedings by filing a foreclosure action. In Connecticut, as part of this process, a Li's Pendent notice is filed with the local land records or the town clerk's office in the county where the property is located. This filing formally notifies potential buyers, title searchers, and interested parties that a legal action is underway that could affect the property's ownership rights. The Connecticut Li's Pendent Notice serves as an encumbrance notice, indicating that the property's title has a claim or cloud upon it. It prevents the property owner from selling or transferring the title without notifying prospective buyers or transferees about the foreclosure pending against it. This notice aims to protect potential buyers from unknowingly purchasing a property with unresolved legal issues and helps maintain the integrity of real estate transactions within the state. Variations of Connecticut Li's Pendent Notice: 1. Pre-Foreclosure Li's Pendent Notice: Filed by the mortgage holder or lender before formally initiating the foreclosure action. This notice serves as a warning to the property owner about the impending legal action and provides an opportunity to address the default before further steps are taken. 2. Li's Pendent Notice in Judicial Foreclosure: Filed during a foreclosure action that proceeds through a judicial process, involving court proceedings and a judge's decision on the outcome. 3. Li's Pendent Notice in Non-Judicial Foreclosure: Filed during a foreclosure action that proceeds without court involvement, typically when the mortgage or deed of trust includes a power of sale clause allowing the lender to foreclose without a court order. It is important to note that the Li's Pendent Notice does not automatically result in the transfer of property ownership to the lender or mortgage holder. It simply alerts interested parties of the foreclosure action, protecting the rights of potential buyers and ensuring transparency in real estate transactions.
