WHAT IS LIS PENDENS?
Lis Pendens is a “notice of pending action”. It’s an official notice to the public that a lawsuit involving a claim on a property has been filed. The notice can last for three years from the filing date. If there’s a good cause shown, the notice may receive extensions for additional periods. It’s designed to enable interested parties to the lawsuit and create a public record for anyone who searches the property in the County Clerk’s office.
WHAT HAPPENS AFTER A LIS PENDENS IS FILED?
Once you receive notice of lis pendens, it depends on your state when it turns into a foreclosure. In New York, it can take up to 15 months after the notice is filed.
WHAT DOES A NOTICE OF LIS PENDENS TELL YOU?
Lis Pendens includes the following:
- Court and Case Number: This guides you where to gather more information about the legal action.
- Parties: This allows you to know which parties are involved. You will have to contact them if you intend to buy or take other action on the property.
- Attorneys: Attorneys are the first individuals you should contact.
- Nature of the Proceeding: It lists the purpose of the legal action.
- Land: This will provide the information of the property.
HOW DID I GET A LIS PENDENS FILED AGAINST ME?
If you are a homeowner that has been delinquent on your mortgage monthly payments or property taxes, your mortgage lender or local government may have filed a lis pendens against you. Another way is if you purchase a property from a party that already is affected by a notice of Lis Pendens.
EFFECT OF LIS PENDENS
This notice can affect the buying and selling of properties. For example, if a bank is suing a homeowner, and the owner sells the home, the new owner becomes the target of the lawsuit. Lis Pendens affects the owner of the property, no matter when it was filed. Lis Pendens is the first step to foreclosure.
HOW TO REMOVE A LIS PENDENS
A Lis Pendens will be removed:
- If the lawsuit goes to court and gets settled.
- If the claim was wrongfully filed.
- If no action has been taken within the time frame, the Lis Pendens will expire.
- If the Lis Pendens doesn’t have a set expiration date, then you will need assistance from an attorney to have it officially removed.
Need help with Lis Pendens?
Contact us for any assistance pertaining to Lis Pendens. We would be happy to help you stay in a trouble-free home.