Delaware Lis Pendens Notice
Description
How to fill out Lis Pendens Notice?
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FAQ
A lis pendens can substantially benefit the person who is suing. This is because it usually serves as a claim against the property for any damages that might be awarded in the lawsuit. Most buyers will not purchase property involved in litigation or will only purchase the property at a discount.
A Standard Document notice of lis pendens to file with a county recording office in New Jersey to provide constructive notice to third parties that a legal proceeding is pending in a New Jersey court that asserts a claim against title or some other ownership interest in the real property.
A ?lis pendens notice? is a notice recorded in a real property's chain of title and is designed to enable interested third parties to discover the existence and scope of pending litigation affecting the title to or asserting a mortgage, lien, security interest, or other interest in real property.
No notice of lis pendens shall be effective after five years from the date of its filing. Amended by 1995, c. 244, s. 16.
If you receive a discharge of lis pendens, it means your property no longer has a claim or lawsuit against it.
A lis pendens is the first filing made during the foreclosure process. Barron's Dictionary of Real Estate Terms defines Lis Pendens as Latin for "suit pending". Lis Pendens filings are made against properties for various reasons.
Lis pendens provides constructive notice, or a warning, to prospective homebuyers that the ownership of a property is in dispute and litigation is pending. Lis pendens can only be filed if a claim is related specifically to the property.
Once the complaint is filed, it enters a Lis pendens, meaning a suit is pending. The lender becomes the plaintiff, and the debtor becomes the defendant in the court record. The case receives a docket number. The plaintiff must serve the defendant with the foreclosure complaint.
