Form Lis Pendens Foreclosure In King
Category:
State:
Multi-State
County:
King
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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The court has placed the most commonly used forms on line as a resource. Please be advised that the forms detailed below are intended to be a guide.Lis pendens is a notice lenders use when they initiate a foreclosure sale. 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. A lis pendens is the first filing made during the foreclosure process. Barron's Dictionary of Real Estate Terms defines Lis Pendens as Latin for suit pending. In a foreclosure action, the judgment of foreclosure directs that the mortgaged premises be sold at auction to pay the sum due to the foreclosing plaintiff. This Residential Foreclosure Actions Consumer Bill of Rights provides guidance to homeowners facing foreclosure in New York. Pendens alerts a potential purchaser or lender that the property's title is in question, which makes the property less.
