Release Of Lis Pendens Meaning In Oakland
Category:
State:
Multi-State
County:
Oakland
Control #:
US-00403BG
Format:
Word
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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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A lis pendens is an official notice to the public that a lawsuit involving a claim on a property has been filed. A release of lis pendens is a bond covering the cost of the lis of pendens to release the property back to the defendant.A lis pendens is a notice that a lawsuit has been filed regarding either a dispute in ownership of real estate or some other claim of interest in the property. Lis pendens is a formal notice that there is a pending action, or lawsuit, that could affect the title of the property. 'Lis Pendens' is a Latin term that translates to "pending litigation. California law requires those who engage in litigation involving real estate to record and file a lis pendens, which is a notice of pending litigation. Definition. Lis pendens is Latin for "suit pending. For defendants, a Release of Lis Pendens Bond guarantees cost coverage of the Lis Pendens to release the property back to the defendant selling a property. Because nobody wants to buy real estate if its ownership is in dispute, a lis pendens notice effectively ties up the property until the case is resolved. Notice lis pendens; recording; copy as evidence.
