Lis pendens

Lis pendens,

Definition of Lis pendens:

  1. A lis pendens is an official notice to the public that a lawsuit involving a claim on a property has been filed. Lis pendens is connected to the concept that a buyer of a property must assume any litigation that exists pertaining to the property. If a bank is suing the owner of a lot and a new buyer purchases the lot, then the new owner must face the lawsuit; sale of the property does not prevent the plaintiff from seeking redress via litigation. It can represent a contingent liability.

  2. Lis pendens is literally translated from Latin as "a suit pending." This condition can adversely affect the sale price or possibility of a sale since any pending litigations are typically unfavorable for the owner. The term is commonly abbreviated "lis pend.".

  3. Alternative way of writing pendens lis.

How to use Lis pendens in a sentence?

  1. Lis pendens are common divorce cases in which spouses are divvying up assets, or in cases in which a home is up for foreclosure after a borrower is delinquent.
  2. A lis pendens is an official, public notice that a property has a pending lawsuit or claim attached to it.
  3. Lis pendens can only be filed if a claim is related specifically to the property; however, it specifies that the owner of the property must assume any litigation associated with it.

Meaning of Lis pendens & Lis pendens Definition