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 financiers 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.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Chicago, Illinois Li's Pendent Notice in Connection with Action to Foreclose is an important legal document that serves as a public notice regarding a pending foreclosure action on a property in the Chicago, Illinois area. When a homeowner fails to fulfill their mortgage obligations, the lender or lien holder may initiate foreclosure proceedings to recover the outstanding debt. The Li's Pendent Notice is a crucial step in this process, providing notice to potential buyers or other interested parties that there is a legal claim on the property. In Chicago, Illinois, there are several types of Li's Pendent Notices in Connection with Action to Foreclose that can be filed, depending on the specific circumstances of the foreclosure case. These include: 1. Li's Pendent Notice for Residential Property Foreclosure: This notice is filed when the property in question is a residential property, typically a single-family home, condo, or townhouse. 2. Li's Pendent Notice for Commercial Property Foreclosure: When a commercial property, such as an office building, retail space, or multi-unit complex, is subject to foreclosure proceedings, a Li's Pendent Notice specific to commercial properties is filed. 3. Li's Pendent Notice for Vacant or Abandoned Property Foreclosure: In cases where the property subject to foreclosure is vacant or has been abandoned by the owner, a specific Li's Pendent Notice is filed, highlighting the unique circumstances of the foreclosure action. 4. Li's Pendent Notice in Connection with Judicial Foreclosure: In some cases, the foreclosure process may involve the court system. When a foreclosure action is pursued through the judicial system, a Li's Pendent Notice in Connection with Judicial Foreclosure is filed to inform interested parties about the pending legal proceedings. 5. Li's Pendent Notice in Connection with Non-Judicial Foreclosure: Non-judicial foreclosure is a process that does not involve the court system and is typically faster than its judicial counterpart. In this case, a Li's Pendent Notice specific to non-judicial foreclosures is filed to provide notice to interested parties. It is crucial for individuals considering purchasing property or otherwise having an interest in a property in the Chicago, Illinois area to stay informed about any Li's Pendent Notices in Connection with Action to Foreclose that may be filed. These notices protect the rights of the lender or lien holder and ensure that potential buyers and interested parties are aware of the pending foreclosure action.
