Elizabeth, New Jersey Li's Pendent is a legal term that refers to a notice of pending litigation that is filed against a property. It signifies that there is a pending lawsuit or legal action that could potentially affect the ownership or title of the property in question. This document is typically recorded with the county clerk's office where the property is located in order to provide public notice and ensure that any potential buyers or interested parties are informed of the ongoing legal dispute. Li's pendent, which is Latin for "lawsuit pending," is often used as a means to protect the rights of the party initiating the lawsuit by preventing the property owner from transferring or selling the property while the case is unresolved. It serves as a warning to prospective buyers or lenders that there is a cloud on the title and that they should proceed with caution or seek legal advice before engaging in any transaction involving the property. In Elizabeth, New Jersey, there may be different types of is pendent based on the nature of the legal action. Some possible variations may include: 1. Foreclosure Li's Pendent: This type of is pendent is filed when there is a pending foreclosure lawsuit against a property. It alerts potential buyers or lenders that the property may be at risk of seizure or auction by the bank or financial institution if the owner fails to resolve the outstanding mortgage debt. 2. Divorce Li's Pendent: In cases of divorce, one spouse may file an is pendent against jointly-owned property to prevent the other spouse from selling or transferring the property without consent. This type of is pendent aims to protect the rights and interests of both parties during the divorce proceedings. 3. Contract Dispute Li's Pendent: When there is a dispute or disagreement between the buyer and seller regarding a property sale or lease agreement, an is pendent may be filed to indicate that there is a pending legal action related to the contract. This serves as a cautionary measure to notify potential buyers or tenants that there is a dispute that could affect the transaction. 4. Boundary Dispute Li's Pendent: This type of is pendent is filed when there is a disagreement between neighboring property owners regarding the boundaries or use of land. It indicates that there is a pending legal action to resolve the boundary dispute and can affect any potential transfer or development plans involving the affected properties. It is important to note that an is pendent does not necessarily determine the outcome of the pending legal action, but rather serves as a public notice that an ongoing legal dispute may impact the property's ownership or title. Furthermore, it is advisable for individuals or entities involved in a real estate transaction in Elizabeth, New Jersey to conduct thorough due diligence and consult with legal professionals to understand the implications of any is pendent related to the property of interest.
Elizabeth New Jersey Lis Pendens
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When to Use a Discharge of Lis Pendens. The notice of lis pendens is effective for five years from the filing date (N.J.S.A. 2A:15-11).
Filing and Serving the Notice of Lis Pendens. File the notice of lis pendens: With the county recording office in the county where the real property is located. After filing the complaint in the litigation that directly involves the real property.
336, 345-47 (Law. Div. 1999)). Serve the notice of lis pendens on the property owner and any other defendant within three days of filing with the county recording office.
The notice of lis pendens is effective for five years from the filing date (N.J.S.A. 2A:15-11). However, the notice of lis pendens can be discharged when: The plaintiff fails to diligently prosecute the action (N.J.S.A.
Purpose. This is a legal notice to show pending litigation relating to real property, and giving notice that anyone acquiring an interest in said property subsequent to the date of the notice may be bound by the outcome of the litigation.
Filing and Serving the Notice of Lis Pendens. File the notice of lis pendens: With the county recording office in the county where the real property is located. After filing the complaint in the litigation that directly involves the real property.
A ?lis pendens notice? is a notice recorded in a real property's chain of title and is designed to enable interested third parties to discover the existence and scope of pending litigation affecting the title to or asserting a mortgage, lien, security interest, or other interest in real property.
Purpose. This is a legal notice to show pending litigation relating to real property, and giving notice that anyone acquiring an interest in said property subsequent to the date of the notice may be bound by the outcome of the litigation.