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.
Illinois Li's Pendent Notice in Connection with Action to Foreclose is a legal document filed by a lender in the state of Illinois when initiating a foreclosure action against a property. This notice serves as a public record that alerts interested parties of the pending foreclosure lawsuit, making them aware that the property is subject to potential foreclosure proceedings. Keywords: Illinois, Li's Pendent, Notice, Action to Foreclose, foreclosure, lender, property, pending, lawsuit, proceedings. There are two types of Li's Pendent Notices that may be filed in connection with an action to foreclose a property in Illinois: 1. Constructive Li's Pendent Notice: This type of Li's Pendent notice is filed with the county recorder's office where the property is located. It acts as a constructive notice to third parties, including potential buyers, lien holders, and others with an interest in the property. By recording this notice, the lender aims to protect its claim on the property and ensure that any subsequent purchaser or interested party is aware of the ongoing foreclosure action. 2. Actual Notice: Apart from the constructive Li's Pendent notice, the lender may also provide actual notice to interested parties involved in the foreclosure proceedings. This typically involves serving the notice directly to the property owner, known lien holders, or any individual who has a legal interest in the property. Providing actual notice ensures that these parties are aware of the foreclosure action and gives them an opportunity to respond or participate in the proceedings if necessary. It is important to note that the Li's Pendent notice is not a foreclosure judgment or a final determination of the outcome of the foreclosure action. It simply alerts interested parties that a foreclosure lawsuit is in progress, allowing them to take appropriate actions based on their legal rights and interests. In summary, Illinois Li's Pendent Notice in Connection with Action to Foreclose is a legal document filed by a lender to notify interested parties about an ongoing foreclosure lawsuit. By recording this notice, the lender aims to protect its claim on the property and make potential buyers and other parties aware of the pending foreclosure proceedings. There are two types of Li's Pendent notices: constructive, which is recorded with the county recorder's office, and actual, which involves serving the notice directly to the interested parties.
