Description: A Montana Release of Li's Pendent is a legal document used to eliminate or release a Notice of Li's Pendent from a property's title. A Li's Pendent, commonly known as a notice of pending litigation, is a legal notice filed by a party involved in a legal dispute concerning the property. This notice is recorded in the county where the property is located and gives public notice to potential buyers or investors that a lawsuit is pending and may affect the property's ownership. Keywords: Montana Release of Li's Pendent, legal document, Notice of Li's Pendent, property's title, pending litigation, legal notice, property ownership Types of Montana Release of Li's Pendent: 1. Voluntary Release of Li's Pendent: This type of release occurs when the party who filed the Li's Pendent willingly removes it from the property's title. It typically happens when the parties involved in the legal dispute reach a settlement or resolve the underlying issues. 2. Court-Ordered Release of Li's Pendent: In some cases, a court may order the release of Li's Pendent if it determines that the original filing was improper, inaccurate, or if the lawsuit no longer affects the property's ownership. This type of release is typically requested by one of the parties involved, and the court decides whether it is appropriate. 3. Expiration of Li's Pendent: Li's Pendent has a limited duration, and if the legal dispute is not resolved within a certain timeframe, the Li's Pendent will expire automatically. Once expired, it no longer has any effect on the property's title, and no specific release document is required. 4. Withdrawal of Li's Pendent: If the party who filed the Li's Pendent voluntarily withdraws it for any reason, no further legal action is needed. The withdrawal removes the notice from the property's title, releasing it from the cloud of pending litigation. It is important to note that anyone considering the purchase or investment in a property affected by a Li's Pendent is advised to seek legal counsel to fully understand the implications and ensure proper resolution, whether through a Montana Release of Li's Pendent or other legal means.
Montana Release of Lis Pendens
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How to fill out Montana Release Of Lis Pendens?
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FAQ
A notice of pendency (also known as a lis pendens) is a written notice of a judicial proceeding that affects the ownership of property. A notice of pendency is most common in cases relating to real property and is typically filed in the public registry of the county where the affected real property is located.
Lis pendens are used most often in cases of divorce and foreclosure. For example, if a divorcing couple cannot agree on how to divide their interest in the marital home, one spouse may file a lis pendens in order to keep the other spouse from trying to sell the house until the divorce is settled.
A lis pendens can substantially benefit the person who is suing. This is because it usually serves as a claim against the property for any damages that might be awarded in the lawsuit. Most buyers will not purchase property involved in litigation or will only purchase the property at a discount.
Another way a homeowner might get a lis pendens removed is by filing a motion to remove with the court. He or she can then demonstrate that there is little or no proof that the complainant in the suit will prove ownership of the real estate property at the hearing.
In general, lis pendens is Latin for ?suit pending.? It is used in several contexts: ?Lis pendens? is construed to be the jurisdiction, power, or control which courts acquire over property involved in a suit, pending the continuance of the action, and until final judgment.
Latin for "a suit pending," a written notice that a lawsuit has been filed which concerns the title to real property or some interest in that real property. The lis pendens (or notice of pending action) is filed with the clerk of the court, certified that it has been filed, and then recorded with the County Recorder.
Said Lis Pendens remains as long as the action is pending, unless it is voluntarily withdrawn or expunged (wipe out - erase) by motion to the court. Caution should still be used even if the Lis Pendens is removed since danger may still exist for a Title Company.
