Guam Lis Pendens Notice in Connection with Action to Foreclose

State:
Multi-State
Control #:
US-01458BG
Format:
Word; 
Rich Text
Instant download

Description

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.

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FAQ

New York requires a pre-foreclosure notice at least 90 days before starting legal action against a borrower. The notice informs you that you have overdue payments and seeks arrangements for you to make those payments.

A lis pendens effectively clouds the title to the property described in the notice and impedes a subsequent sale or encumbrance of the property until the litigation is resolved or the lis pendens is expunged. (Malcom v. Superior Court (Green) (1981) 29 Cal.

Foreclosure information generally remains in your credit report for seven years from the date of the foreclosure. Even if you have a bad credit history or a low credit score, you may qualify for an Federal Housing Administration (FHA) loan.

Once a lender flags a borrower for missing their loan payments, they send a Notice of Default (NOD). A NOD is a court-filed public notice that declares the borrower has defaulted on their loan. As the name suggests, this is a letter from the lender to the borrower notifying them of their missed payments.

There are two ways lenders in Michigan can foreclose: Judicial Foreclosure where the lender must take the borrower to court (this type of foreclosure is not common), and. Foreclosure by Advertisement where the lender may foreclose by scheduling a Sheriff's sale and advertising the sale in a local paper.

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.

What You Should Do About a Lis Pendens on Your Property. If you have a lis pendens on your property, you need to contact an attorney as soon as possible. A Motion to Expunge should be filed as soon as possible. If you aren't sure about the details of the action filed, you can request information from the court clerk.

Once a lender flags a borrower for missing their loan payments, they send a Notice of Default (NOD). A NOD is a court-filed public notice that declares the borrower has defaulted on their loan. As the name suggests, this is a letter from the lender to the borrower notifying them of their missed payments.

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Guam Lis Pendens Notice in Connection with Action to Foreclose