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.
Rhode Island Li's Pendent Notice in Connection with Action to Foreclose is an important legal document that plays a significant role in the foreclosure process. When a property owner defaults on their mortgage loan and the lender initiates foreclosure proceedings, they file a Li's Pendent Notice with the Rhode Island courts. This notice serves to alert any potential buyers or interested parties that there is a legal action pending against the property. The primary purpose of the Rhode Island Li's Pendent Notice is to provide public notice that the property is the subject of a foreclosure action. This prevents unsuspecting buyers from purchasing the property without knowledge of the impending foreclosure. By filing the notice, the lender essentially places a cloud on the property's title, making it difficult for the owner to sell or transfer the property during the foreclosure process. There are two main types of Rhode Island Li's Pendent Notices in connection with actions to foreclose: 1. Li's Pendent Notice: This is the standard type of Li's Pendent Notice filed in Rhode Island when a foreclosure action is initiated. It includes details about the foreclosure lawsuit, such as the case number, court information, parties involved, and a description of the property. This notice is crucial for potential buyers, as it alerts them to the legal proceedings and potential risks associated with purchasing the property. 2. Notice of Li's Pendent Release: Once the foreclosure action has been resolved, either through a successful foreclosure sale or another resolution, the lender can file a Notice of Li's Pendent Release with the court. This document removes the cloud on the property's title, indicating that the foreclosure action is no longer pending. It is essential to file this release to ensure that the property is free and clear for future buyers or owners. In conclusion, the Rhode Island Li's Pendent Notice in Connection with Action to Foreclose is a vital legal instrument used to alert potential buyers and interested parties about a pending foreclosure action. It serves as a warning sign, indicating that the property's ownership and title are in question. By differentiating between the standard Li's Pendent Notice and the Notice of Li's Pendent Release, individuals can better understand the foreclosure process and its subsequent impact on a property's status.
