Notice of Defaults (NOD's) is the beginning phase of the foreclosure process. The beneficiary (lender) will hire a trustee (third party) to prepare and process the NOD's. The trustee then records a copy of the NOD with the County Recorder's office in the county where the property is located
A lis pendens literally means that litigation is pending. It tells the public that a lawsuit affecting the property is in progress and that any judgment awarded in that legal action will have priority as of the date of the lis pendens. Some lawyers file a lis pendens automatically when they file a suit affecting title to real estate. The lis pendens creates a cloud on the title and can prevent a potential sale of the property from taking place.
[addsig]
Do NODs go by any other name? I ask because I can access our local county records via the internet, but I don't see a document type of NOD. LPs (Lis Pendens) are there as well as JDs (Judgements of Default).
Notice of Defaults (NOD's) is the beginning phase of the foreclosure process. The beneficiary (lender) will hire a trustee (third party) to prepare and process the NOD's. The trustee then records a copy of the NOD with the County Recorder's office in the county where the property is located
A lis pendens literally means that litigation is pending. It tells the public that a lawsuit affecting the property is in progress and that any judgment awarded in that legal action will have priority as of the date of the lis pendens. Some lawyers file a lis pendens automatically when they file a suit affecting title to real estate. The lis pendens creates a cloud on the title and can prevent a potential sale of the property from taking place.
[addsig]
Do NODs go by any other name? I ask because I can access our local county records via the internet, but I don't see a document type of NOD. LPs (Lis Pendens) are there as well as JDs (Judgements of Default).
Uh, maybe a JD = NOD?
Ho...
Ho,
Default Judgment is granted against someone because they failed to show up in court.
Florida does use the Notice of Default. They may not be online.
Thanks Dave! I will do some more research.
Ho...