It is a notice of suit against a property. A good example of one would be a mechanics lien or if I had a court ordered judgment against you and put a lien on your property.
dnvrkid is right. I may be able to expand on dnvr's statement :
It's a recorded notice by a party to indicate pending litigation (a lawsuit) that will affect title to the property. Lis Pendens places a cloud on the title and makes the property unmarketable until the lis pendens is removed. The lis pendens remains on the public record until the lawsuit is dismissed or final judgement is rendered.
Lis Pendens are usually not done frivolously, since if the "agrieved" party succeeds in having the Lis Pendens removed, there is liability on the part of the "claimant" for damages resulting from the filing.
Lis pendens (at least in PA) can only be filed when there is an issue of ownership in the property -- such as, someone who claims to have an equitable ownership interest in the property and wants to give notice to third persons of their claim. It is NOT correct to file a lis pendens (at least in PA) where money damages are in dispute. So in other words, I couldn't file a lis pendens when there's a dispute about payment of my commission because I have no claim of ownership in the property. In PA, a lis pendens has to relate to ownership of the property. Otherwise, it can be stricken.
It is a notice of suit against a property. A good example of one would be a mechanics lien or if I had a court ordered judgment against you and put a lien on your property.
dnvrkid is right. I may be able to expand on dnvr's statement :
It's a recorded notice by a party to indicate pending litigation (a lawsuit) that will affect title to the property. Lis Pendens places a cloud on the title and makes the property unmarketable until the lis pendens is removed. The lis pendens remains on the public record until the lawsuit is dismissed or final judgement is rendered.
Dave
[addsig]
Lis Pendens are usually not done frivolously, since if the "agrieved" party succeeds in having the Lis Pendens removed, there is liability on the part of the "claimant" for damages resulting from the filing.
Lis pendens (at least in PA) can only be filed when there is an issue of ownership in the property -- such as, someone who claims to have an equitable ownership interest in the property and wants to give notice to third persons of their claim. It is NOT correct to file a lis pendens (at least in PA) where money damages are in dispute. So in other words, I couldn't file a lis pendens when there's a dispute about payment of my commission because I have no claim of ownership in the property. In PA, a lis pendens has to relate to ownership of the property. Otherwise, it can be stricken.