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Lis pendens is a formal notice that there is a pending action, or lawsuit, that could affect the title of the property. However, it serves an even bigger purpose. When a lis pendens is filed, any future transfers of the property are affected by the pending action if it were to be awarded.
Only those plaintiffs who assert a real property claim in the lawsuit may record a lis pendens. This means the lawsuit must allege a claim to the property itself. If, for example, the lawsuit merely seeks damages, that is not a real property claim.
Purpose of Lis Pendens: Notice to Potential Buyers and Lenders: By filing a lis pendens, parties involved in a real estate dispute notify prospective buyers or lenders that there is a pending legal action affecting the property.
A lis pendens gives notice to any future persons who may acquire an interest in the property that there is a pending lawsuit on the real property which could affect the real propertys title.
The suit or proceeding must be pending before a competent court of jurisdiction. A right to immovable property is directly or specifically involved in the suit. The suit or proceeding must not be collusive. The property in dispute must be transferred or otherwise dealt with by any party to suit.
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There is no specific time frame for how long a lis pendens is valid. Rather, a lis pendens is valid until it is expunged or the underlying case is resolved. If not expunged, a lis pendens is often removed as part of a settlement agreement reached between the parties.

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