Nevada Notice of Lis Pendens
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FAQ
Lis pendens provides constructive notice, or a warning, to prospective homebuyers that the ownership of a property is in dispute and there is litigation pending.By filing a lis pendens, an individual or entity is protecting its claim to the title pending the outcome of the lawsuit.
The lis pendens can be removed once the lawsuit is settled and the court has ruled on an outcome. It might also be resolved on its own if an agreement is reached between the title owner and whoever filed the complaint. If the claim was wrongfully filed, the lis pendens will be expunged.
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.
Because lis pendens are typically recorded in the real property records, the effect of lis pendens is that it puts others on notice that there is a dispute concerning the real property.
