What is lis pendens in real estate?

Lis pendens is a Latin term that translates to "suit pending" and refers to a legal notice filed in public land records to indicate that there is a pending lawsuit involving a specific property. This could be a foreclosure, partition action, boundary dispute, or other legal matter that could affect the ownership or title of the property.

When a lis pendens is filed, it serves as notice to potential buyers, lenders, and other interested parties that there is a legal claim or dispute involving the property. This can complicate or delay the sale or transfer of the property until the legal issues are resolved.

Lis pendens can be filed by any party involved in the lawsuit, such as a homeowner, lender, or contractor. It is typically filed in the county where the property is located and is a matter of public record.

It is important for buyers and sellers to be aware of any lis pendens filings on a property they are interested in, as it may indicate potential legal issues or encumbrances that could affect the transaction. Buyers should conduct thorough due diligence and consult with legal counsel to understand the implications of a lis pendens before proceeding with a purchase.