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.
New Mexico Li's Pendent Notice in Connection with Action to Foreclose is a legal document filed by a creditor or lender to give notice to potential buyers and interested parties that a property is facing foreclosure. This notice is recorded in the county where the property is located and serves as a warning that the property's ownership is in dispute due to an impending foreclosure lawsuit. The purpose of the New Mexico Li's Pendent Notice is to alert anyone interested in purchasing the property that there is a pending legal action that could affect its ownership. This notice is an important step in the foreclosure process as it allows interested parties to be aware of any potential legal claims to the property. Keywords: New Mexico, Li's Pendent, Notice, Foreclosure, Foreclosure Lawsuit, Property, Ownership, Creditor, Lender. Types of New Mexico Li's Pendent Notice in Connection with Action to Foreclose: 1. Li's Pendent Notice for Residential Properties: This type of notice is specifically tailored for foreclosing residential properties, such as single-family homes, townhouses, and condominiums. 2. Li's Pendent Notice for Commercial Properties: This notice is designed for foreclosing commercial properties, including office buildings, retail spaces, industrial properties, and vacant land intended for commercial development. 3. Li's Pendent Notice for Agricultural Properties: This type of notice caters to the foreclosure actions involving agricultural lands, farms, ranches, and other properties primarily used for farming or livestock purposes. 4. Li's Pendent Notice for Vacant Properties: When a property is foreclosed and remains vacant, a specific notice can be filed to inform potential buyers or interested parties about the foreclosure status. This type of notice is crucial to preventing unauthorized occupation or potential scams related to abandoned properties. 5. Li's Pendent Notice for Condominium Associations: In cases where a condominium unit in a common-interest community is being foreclosed, the condominium association may file a specific notice to notify potential buyers or interested parties about the foreclosure action. By filing the New Mexico Li's Pendent Notice in Connection with Action to Foreclose, creditors and lenders aim to protect their legal rights and interests in the property, while also informing prospective purchasers or investors about the pending foreclosure action. It serves as a legal safeguard and ensures transparency in real estate transactions, enabling buyers to make informed decisions about purchasing properties involved in foreclosure litigation.
