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.
Michigan Li's Pendent Notice in Connection with Action to Foreclose is a legal document filed by a party seeking to foreclose on a property in the state of Michigan. This notice serves as a public record of a pending foreclosure action and alerts potential buyers and interested parties that there is a legal dispute involving the property. The Michigan Li's Pendent Notice in Connection with Action to Foreclose contains important information related to the foreclosure proceedings. It includes the names of the parties involved in the action, the case number, and the court in which the matter is being litigated. Additionally, it may provide the legal description of the property, the amount owed on the mortgage, and any other relevant details. This notice acts as a formal warning to anyone interested in purchasing or dealing with the property that there is a legal claim against it. It effectively clouds the title, making it difficult for the property owner to sell or refinance until the foreclosure action is resolved. Potential buyers and lenders are required to conduct thorough due diligence before proceeding with any transactions involving a property with an active Michigan Li's Pendent Notice. In Michigan, there are different types of Li's Pendent Notices in Connection with Action to Foreclose, each serving a specific purpose. These may include: 1. Mortgage Li's Pendent Notice: Filed by the mortgagee or lender to initiate the foreclosure process due to default on the mortgage terms. 2. Tax Lien Li's Pendent Notice: Filed by the local tax authority to begin foreclosure proceedings for unpaid property taxes. 3. HOA/Condo Association Li's Pendent Notice: Filed by a homeowners association or condominium association in case of non-payment of dues or violation of association rules. 4. Mechanics Lien Li's Pendent Notice: Filed by a contractor or supplier who has not been paid for work or materials provided on the property. 5. Judgment Lien Li's Pendent Notice: Filed by a creditor who has obtained a judgment against the property owner and seeks foreclosure to satisfy the debt. Each type of Michigan Li's Pendent Notice has specific requirements and procedures outlined by state law. It is essential for all parties involved to consult with a qualified attorney to ensure compliance and to understand their rights and obligations in these foreclosure actions.
