Massachusetts Memorandum of Lis Pendens
Description
Key Concepts & Definitions
Memorandum of Lis Pendens is a legal notice that is recorded in the public record. It indicates that a property is subject to a lawsuit that may affect its ownership or title. The term originates from Latin, meaning 'suit pending'. This document serves to warn potential buyers or financiers that the property is embroiled in litigation and that the outcome could impact their interests.
Step-by-Step Guide
- Determine the Necessity: Assess if your legal situation warrants the filing of a memorandum of lis pendens, typically used in cases involving property disputes.
- Prepare the Document: Gather necessary information about the property and the lawsuit to draft the memorandum. Consult with a legal professional to ensure accuracy.
- File the Memorandum: Submit the completed memorandum to the county recorder's office where the property is located. Ensure all filing fees are paid and the document meets local requirements.
- Notify Involved Parties: After filing, inform all parties involved in the lawsuit about the memorandum. This might include the property seller, potential buyers, and financial institutions.
Risk Analysis
- Legal Repercussions: Incorrectly filing a memorandum of lis pendens without proper grounds could lead to legal actions like slander of title or damages claims against you.
- Delays in Transactions: A recorded memorandum can deter potential buyers and lenders, causing significant delays in property transactions.
- Resolution Dependency: The effect of the memorandum largely depends on the lawsuit's outcome, and it may remain in effect until the dispute is resolved, affecting long-term plans.
Pros & Cons
- Pros:
- Protects the filers legal interests in the property.
- Alerts potential buyers about pending litigation, ensuring transparency.
- May prevent undesired transfers or encumbrances during the lawsuit.
- Cons:
- Can halt or significantly delay property sales or financing.
- Potentially could be used wrongly as a tool for harassment in frivolous lawsuits.
- Requires resolution of the underlying legal conflict to clear the title.
Best Practices
- Consult Legal Professionals: Ensure that your actions are legally justified and supported by advice from experienced real estate attorneys.
- Maintain Updated Records: Keep all legal documents and records up-to-date and in order, especially those that pertain to property disputes.
- Communicate Effectively: Stay in contact with all parties involved in the litigation to negotiate potential resolutions or updates related to the lis pendens.
FAQ
- What is a memorandum of lis pendens used for? It is used to notify the public and potential property buyers that there is an ongoing lawsuit that may affect the propertys title.
- How long does a lis pendens last? It lasts until the lawsuit regarding the property is resolved or the memorandum is formally withdrawn or expired.
- Can a memorandum of lis pendens be challenged? Yes, an individual or entity affected by it can petition the court to have it expunged or lifted, typically by proving that the claim is not valid or sufficiently related to property rights.
How to fill out Massachusetts Memorandum Of Lis Pendens?
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FAQ
The homeowner can enter into a contract to sell the property, but the claim of the person who has filed the lis pendens has to be paid or settled before title can pass free and clear to the buyer. If the house closes, the buyer would ultimately have to accept the outcome of the pending litigation.
How long it takes for your home to foreclose once you receive notice of lis pendens will depend on the state. In California, it might take a minimum of 120 days, and 180 days in Florida, while in New York it can take as long as 15 months after the notice is filed.
Lis pendens is nothing more or less than an official public notice that a lawsuit has been filed that involves a claim on a property.One party is using lis pendens as a way to protect its claim, and in the process, create hurdles for selling the property. It won't prevent the sale, but most buyers will steer clear.
Lenders are usually unwilling to finance a mortgage until the lis pendens has been removed from the title. In addition, while a property can still be sold while there is a lis pendens, title companies will not insure the property, and that alone should be a deterrent to purchasing.
The standard for obtaining a lis pendens in Massachusetts is simple: A person seeking a lis pendens must establish that the subject matter of their lawsuit "constitutes a claim of a right or title real property or the use and occupation thereof." Once that has been establishedand it need only be established by what is
The homeowner can enter into a contract to sell the property, but the claim of the person who has filed the lis pendens has to be paid or settled before title can pass free and clear to the buyer. If the house closes, the buyer would ultimately have to accept the outcome of the pending litigation.
A notice, or memorandum, of lis pendens is a statutory procedure designed to notify potential real estate buyers and other interested persons of pending lawsuits affecting title to real property.
The homeowner can enter into a contract to sell the property, but the claim of the person who has filed the lis pendens has to be paid or settled before title can pass free and clear to the buyer. If the house closes, the buyer would ultimately have to accept the outcome of the pending litigation.
A lis pendens may be removed through a motion to expunge. A motion to expunge may be granted if the underlying lawsuit or other court action does not contain a real property claim that has probable validity. The motion will be granted it if is more likely than not that the underlying lawsuit or claim will fail.
