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Minnesota lis pendens conveyancing 2025

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The document is a 'Notice of Lis Pendens' filed in the District Court of Minnesota, indicating that a legal action is pending regarding a specific real property. It includes details about the parties involved, the court file number, and requests for relief related to the property in question.

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Is a notice of lis pendens the same as a notice of default?

Lis pendens is almost always used by lenders who have filed a notice of default on a delinquent borrower. Banks use the procedure to notify the public that a property is in foreclosure. Other creditors whose debt is secured by property can also foreclose on a property.

What is a notice of lis pendens in Minnesota?

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.

Can I buy a house with lis pendens?

A lis pendens does not prevent a piece of real estate from being bought or sold, but it usually has a major impact on how desirable a piece of property will be to prospective buyers. A lis pendens could ultimately result in a new buyer losing his or her title to the property.

What is another name for the lis pendens?

A lis pendens is not a lien and it cannot stop someone from selling or getting a loan secured by real property, however, it usually does effectively deter others from buying, selling or borrowing money because it means the ownership rights to that property are in question.

What is the purpose of the lis pendens?

The literal translation of Lis Pendens is suit pending. It is also sometimes referred to as a Notice of Pendency of Action. As the name suggests, the purpose is to let others know that there is an active lawsuit.