“Lis Pendens” is a Latin term meaning “pending litigation.” It is often referred to as a “notice of pending action.” This notice is important as it informs potential buyers or lenders that there is a legal dispute involving the property. If someone buys or lends on a property with a lis pendens, they might have to deal with the legal claims on the property.
Why is Lis Pendens Important?
The main goal of recording a lis pendens is to protect rights to the property until the legal issue is resolved. Without this notice, a property owner could sell or mortgage the property without the buyer or lender knowing about the dispute. If the property changes hands before the dispute is known, the person with the claim might lose their right to the property.
Source: California Title Company
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
