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.
Maryland Li's Pendent Notice in Connection with Action to Foreclose is a legal document filed by a lender or creditor in the state of Maryland to publicly notify interested parties of a pending foreclosure action on a property. A Li's Pendent, derived from Latin meaning "pending litigation," is a notice that grants notice to potential buyers, creditors, and other interested parties about the pending legal action concerning a property. When a lender or creditor initiates a foreclosure action in Maryland, it is mandatory for them to file a Li's Pendent Notice in the appropriate land records office. This notice acts as a warning to any prospective purchasers or individuals seeking to encumber or transfer the property, ensuring that they are aware of the ongoing legal proceedings. It marks the property as the subject of a foreclosure action, putting all parties on notice that legal rights and interests may be affected. The Maryland Li's Pendent Notice in Connection with Action to Foreclose includes various essential details, such as the names of the parties involved in the foreclosure action, the court where the action is pending, the date the action was initiated, and a legal description of the property. Additionally, it may include information about any relevant court case numbers and other important references. Different types of Maryland Li's Pendent Notice in Connection with Action to Foreclose may include: 1. Judicial Li's Pendent Notice: Filed in cases where the foreclosure action is initiated through a lawsuit in a Maryland court. 2. Non-Judicial Li's Pendent Notice: Filed in cases where the foreclosure action is conducted through a power of sale provision contained in the mortgage or deed of trust. It's crucial to note that the Li's Pendent Notice is not a foreclosure judgment but serves as a public record notice that alerts potential buyers, lien holders, and interested parties of the pending foreclosure action. It aims to safeguard the rights of the creditor and ensure transparency within the real estate market. In conclusion, the Maryland Li's Pendent Notice in Connection with Action to Foreclose is a vital legal document that provides public notice of a pending foreclosure action. It's essential for lenders, creditors, and interested parties to understand and comply with the requirements set forth by Maryland law to protect their rights and interests in foreclosure proceedings.
