Utah 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. A Utah Release of Li's Pendent, also known as a Notice of Cancellation of Li's Pendent, refers to a legal document that is filed to remove a previously recorded Li's Pendent from the public records. A Li's Pendent is a notice that notifies interested parties about a pending lawsuit involving a specific property. By filing a Release of Li's Pendent, the claim or litigation against the property is resolved or no longer ongoing, providing clarity and transparency for potential buyers or lenders. In Utah, there are several types of Releases of Li's Pendent, each serving a specific purpose: 1. Voluntary Release of Li's Pendent: This type of release is filed voluntarily by the party who initially filed the Li's Pendent. It indicates that the party no longer claims any right, title, or interest in the property and seeks to release any potential clouds on the property's title. 2. Court-Ordered Release of Li's Pendent: Sometimes, a court may order the release of a Li's Pendent based on various grounds, such as when the lawsuit is settled, dismissed, or the court determines that a Li's Pendent should not have been filed in the first place. This release is typically issued by the court overseeing the case and restores the property's marketability. 3. Release of Li's Pendent due to Expiration: In Utah, a Li's Pendent expires automatically if no pleading or other action is taken to continue the litigation within three years from the date of filing. In such cases, a Release of Li's Pendent due to expiration is filed to symbolize that the claim is no longer active. 4. Release of Li's Pendent with Satisfaction of Judgment: If a Li's Pendent was initially filed because of an unsettled judgment against the property owner, a Release of Li's Pendent with Satisfaction of Judgment is filed to indicate that the judgment has been paid, satisfied, or otherwise resolved. Releasing a Li's Pendent is crucial for property owners and potential buyers as it allows for a clean transfer of title and eliminates any doubts or uncertainties about the property's legal status. Understanding the different types of Releases of Li's Pendent in Utah ensures compliance with the appropriate procedures and helps protect the rights of all parties involved.

A Utah Release of Li's Pendent, also known as a Notice of Cancellation of Li's Pendent, refers to a legal document that is filed to remove a previously recorded Li's Pendent from the public records. A Li's Pendent is a notice that notifies interested parties about a pending lawsuit involving a specific property. By filing a Release of Li's Pendent, the claim or litigation against the property is resolved or no longer ongoing, providing clarity and transparency for potential buyers or lenders. In Utah, there are several types of Releases of Li's Pendent, each serving a specific purpose: 1. Voluntary Release of Li's Pendent: This type of release is filed voluntarily by the party who initially filed the Li's Pendent. It indicates that the party no longer claims any right, title, or interest in the property and seeks to release any potential clouds on the property's title. 2. Court-Ordered Release of Li's Pendent: Sometimes, a court may order the release of a Li's Pendent based on various grounds, such as when the lawsuit is settled, dismissed, or the court determines that a Li's Pendent should not have been filed in the first place. This release is typically issued by the court overseeing the case and restores the property's marketability. 3. Release of Li's Pendent due to Expiration: In Utah, a Li's Pendent expires automatically if no pleading or other action is taken to continue the litigation within three years from the date of filing. In such cases, a Release of Li's Pendent due to expiration is filed to symbolize that the claim is no longer active. 4. Release of Li's Pendent with Satisfaction of Judgment: If a Li's Pendent was initially filed because of an unsettled judgment against the property owner, a Release of Li's Pendent with Satisfaction of Judgment is filed to indicate that the judgment has been paid, satisfied, or otherwise resolved. Releasing a Li's Pendent is crucial for property owners and potential buyers as it allows for a clean transfer of title and eliminates any doubts or uncertainties about the property's legal status. Understanding the different types of Releases of Li's Pendent in Utah ensures compliance with the appropriate procedures and helps protect the rights of all parties involved.