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A lis pendens notice is a notice recorded in a real propertys chain of title and is designed to enable interested third parties to discover the existence and scope of pending litigation affecting the title to or asserting a mortgage, lien, security interest, or other interest in real property.
Formerly known as a lis pendens, a notice of pendency of action is a written document, recorded with the county recorder, that provides constructive notice of a pending court action (i.e. a lawsuit) that affects title to, or possession of, real property.
Except for any right to reenter or to repossess as provided in subdivision 3, all private covenants, conditions, or restrictions created by which the title or use of real property is affected, cease to be valid and operative 30 years after the date of the deed, or other instrument, or the date of the probate of the
Lis pendens is a legal means for serving notice to anyone concerned with a piece of real estate that there is a claim and pending legal action against the property. It is important because it notifies potential buyers that another party has a claim to the property.
A lis pendens notice is a notice recorded in a real propertys chain of title and is designed to enable interested third parties to discover the existence and scope of pending litigation affecting the title to or asserting a mortgage, lien, security interest, or other interest in real property.
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2021 Minnesota Statutes LIS PENDENS; NOTICE; LIMIT, TEN YEARS. APPLICATION. NOTICE OF NO PERSONAL CLAIM. REVERSIONER MAY SUE.
2021 Minnesota Statutes LIS PENDENS; NOTICE; LIMIT, TEN YEARS. APPLICATION. NOTICE OF NO PERSONAL CLAIM. REVERSIONER MAY SUE.
lis pendens literally means a pending suit, and the doctrine of lis pendens has been defined as the jurisdiction, power, or control which a court acquires over property involved in a suit pending the continuance of the action, and until final judgment therein.
A Notice of Lis Pendens is a document that is filed with a County Recorders Office in Minnesota to show that there is a pending lawsuit in court regarding that land. Lis Pendens is Latin for lawsuit pending or litigation pending.
A lis pendens is often filed in divorce cases where the distribution of real estate properties has not been settled. It is particularly common in cases where a property is listed in the name of one spouse, and the other spouse seeks a portion of the asset.