Key Concepts & Definitions
Affidavit to Cancel Notice of Pendency Pursuant to: An affidavit used to formally request the cancellation of a notice of pendency which has been filed against a property. A notice of pendency, also known as a 'lis pendens', is a legal notice filed with the court that a pending action involves the real property.
Step-by-Step Guide
- Determine the Need for Cancellation: Verify that a legal basis exists to file an affidavit to cancel the notice of pendency. Common reasons include settlement of dispute or judgment in favor of the property owner.
- Prepare the Affidavit: Draft the affidavit including all necessary legal descriptions of the property and details of the case or dispute resolution.
- Notarization: Have the affidavit notarized to confirm the identity of the signer and the authenticity of the signature.
- File with the Court: Submit the completed and notarized affidavit to the court where the original notice of pendency was filed.
- Notify Interested Parties: Send copies of the filed affidavit to all parties involved in the original litigation or claim.
- Confirm Cancellation: Check with the court to ensure the notice of pendency has been officially cancelled in the public record.
Risk Analysis
- Legal Risks: Incorrect or fraudulent filing can lead to legal penalties or invalidation of the request.
- Financial Risks: Failing to properly cancel a notice of pendency can affect property sales or refinancing due to title defects.
- Timing Risks: Delays in filing or processing the affidavit can prolong legal uncertainties over the property.
Key Takeaways
Thoroughness Needed: Ensure all legal and procedural requirements are met when filing an affidavit to avoid complications. Professional Guidance: Consider consulting with a legal professional to navigate the specifics of property law relevant to the notice of pendency.
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NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED that pursuant to CPLR § 6514(d)(2), the Notice of Pendency, which was filed under Index No.