Indiana Release of Lis Pendens

• Category: Real Estate - Lis Pendens
• State: Multi-State
• Control #: US-00403BG
• Format: Word

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. Indiana Release of Li's Pendent is a legal document used to remove a notice of pending litigation on a real estate property. Also known as a Release of Notice of Pending Action, this document releases any claim or interest in the property that was previously placed under a Li's Pendent, meaning that the property is no longer subject to the pending lawsuit. A Li's Pendent, which means "lawsuit pending" in Latin, is a legal notice filed in the public records when there is a dispute or litigation involving a property. It serves as a public notice to potential buyers or lenders that there is a pending legal action that may affect the property's title. The purpose of an Indiana Release of Li's Pendent is to clear the title of any cloud created by the previously filed Li's Pendent. Once the lawsuit is resolved or otherwise settled, and all parties involved agree that the notice is no longer necessary, a Release of Li's Pendent is filed to officially remove the notice from the property records. Different types of Indiana Release of Li's Pendent may include: 1. Voluntary Release of Li's Pendent: This type is used when all parties involved in the litigation, including the plaintiff and defendant, agree to release the Li's Pendent voluntarily. It signifies an amicable resolution of the dispute and removes any cloud on the property title. 2. Court-Ordered Release of Li's Pendent: In certain cases, a court may order the release of Li's Pendent if it determines that the notice is no longer necessary or if the lawsuit has been dismissed. This type of release is issued by the court and is legally binding. 3. Release of Li's Pendent due to Settlement: When the parties involved reach a settlement agreement outside of court, they may use a Release of Li's Pendent to remove the notice from the property records. This type of release confirms that the dispute has been resolved through a mutually agreed-upon settlement. It is essential to file an Indiana Release of Li's Pendent with the county recorder's office where the original Li's Pendent was filed. This ensures that the public records reflect the removal of the notice and that potential buyers or lenders are aware of the cleared title. In summary, an Indiana Release of Li's Pendent is a crucial document used to remove the notice of pending litigation on a property. Whether it is a voluntary release, court-ordered release, or release due to settlement, filing this document with the appropriate authorities is crucial to establish a clear and marketable title for the property.

Indiana Release of Li's Pendent is a legal document used to remove a notice of pending litigation on a real estate property. Also known as a Release of Notice of Pending Action, this document releases any claim or interest in the property that was previously placed under a Li's Pendent, meaning that the property is no longer subject to the pending lawsuit. A Li's Pendent, which means "lawsuit pending" in Latin, is a legal notice filed in the public records when there is a dispute or litigation involving a property. It serves as a public notice to potential buyers or lenders that there is a pending legal action that may affect the property's title. The purpose of an Indiana Release of Li's Pendent is to clear the title of any cloud created by the previously filed Li's Pendent. Once the lawsuit is resolved or otherwise settled, and all parties involved agree that the notice is no longer necessary, a Release of Li's Pendent is filed to officially remove the notice from the property records. Different types of Indiana Release of Li's Pendent may include: 1. Voluntary Release of Li's Pendent: This type is used when all parties involved in the litigation, including the plaintiff and defendant, agree to release the Li's Pendent voluntarily. It signifies an amicable resolution of the dispute and removes any cloud on the property title. 2. Court-Ordered Release of Li's Pendent: In certain cases, a court may order the release of Li's Pendent if it determines that the notice is no longer necessary or if the lawsuit has been dismissed. This type of release is issued by the court and is legally binding. 3. Release of Li's Pendent due to Settlement: When the parties involved reach a settlement agreement outside of court, they may use a Release of Li's Pendent to remove the notice from the property records. This type of release confirms that the dispute has been resolved through a mutually agreed-upon settlement. It is essential to file an Indiana Release of Li's Pendent with the county recorder's office where the original Li's Pendent was filed. This ensures that the public records reflect the removal of the notice and that potential buyers or lenders are aware of the cleared title. In summary, an Indiana Release of Li's Pendent is a crucial document used to remove the notice of pending litigation on a property. Whether it is a voluntary release, court-ordered release, or release due to settlement, filing this document with the appropriate authorities is crucial to establish a clear and marketable title for the property.