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.
The New Jersey Li's Pendent Notice in Connection with Action to Foreclose is a legal document filed by a lender or financial institution when initiating foreclosure proceedings on a property in the state of New Jersey. This notice acts as a public record that alerts interested parties, such as potential buyers or other creditors, of the pending foreclosure action. When a lender chooses to file a Li's Pendent Notice, it serves as a formal notification that a lawsuit has been initiated against the property owner to reclaim unpaid mortgage dues. By recording this document with the county clerk's office where the property is located, the lender aims to establish and protect its interest in the property during the foreclosure process. This notice contains key details pertinent to the foreclosure action, including the case number, the names of the plaintiff (lender) and defendant (property owner), the property's legal description, and the court where the foreclosure action is pending. It also outlines the nature of the claim, asserting that the lender seeks to foreclose on the property due to the borrower's default on the mortgage loan. The New Jersey Li's Pendent Notice comes in different types, depending on the stage of the foreclosure process. Some commonly named types include: 1. Li's Pendent Notice of Intent to Foreclose: This notice is filed at the beginning of the foreclosure process, typically after the borrower has become delinquent on their mortgage payments. It alerts the property owner and interested parties of the lender's intention to initiate foreclosure proceedings if the delinquency is not resolved. 2. Li's Pendent Notice of Foreclosure Complaint: This notice is filed after the lender has officially commenced a lawsuit against the property owner. It provides specific information about the foreclosure complaint, such as the date it was filed and the court's jurisdiction. This notice often encourages interested parties to monitor the foreclosure proceedings closely. 3. Li's Pendent Notice of Li's Pendent Discharge: This notice is filed by the lender once the foreclosure action has been resolved. It serves as a notification stating that the Li's Pendent Notice previously filed has been discharged as the foreclosure proceedings have concluded. It is crucial for potential buyers and other involved parties to monitor Li's Pendent Notices, as they indicate the status of a property's ownership and can offer important insights into foreclosure opportunities or potential risks. These notices are vital in understanding the foreclosure process and ensuring transparency in real estate transactions in New Jersey.
