Form Lis Pendens Foreclosure In Collin
Category:
State:
Multi-State
County:
Collin
Control #:
US-00403BG
Format:
Word
Instant download
Description
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 lenders 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. A person who records a false lis pendens will be subject to the penalty of payment of attorney's fees. A petition to remove the lis pendens from real property may be brought by the defendant when the property is not involved in the lawsuit.
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Lis pendens is a notice lenders use when they initiate a foreclosure sale. Foreclosure Case Started.The lender files a "Lis Pendens" (a pending lawsuit) in court. The "lis pendens" warns all people that title to the property is in litigation. The lis pendens is the first public filing in a foreclosure case. Once the complaint is filed, it enters a Lis pendens, meaning a suit is pending. Lis pendens is an official notice to the public that a lawsuit has been filed and a property has a claim against it. To file a Lis Pendens in Texas, the party initiating the lawsuit must follow procedures outlined in the Texas Property Code. This Residential Foreclosure Actions Consumer Bill of Rights provides guidance to homeowners facing foreclosure in New York. A lis pendens should only be filed in the property records if you have already filed a lawsuit against the foreclosing entity.
