Posted by JT - IN (St. Barths, FWI) on July 26, 2001 at 15:37:28:
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Lis Pendons what/where are they? - Posted by steve(conn)
Posted by steve(conn) on July 26, 2001 at 10:52:59:
I just read a post in regards to using Lis pendons to find sellers/deals. I just wanted to know more information about what a Lis Pendons is actually, and waht kind of information it gives you. I also would like to know where they can be found, and how people use them to create deals. Any help will be appreciated.
Re: Lis Pendons what/where are they? - Posted by Sally
Posted by Sally on July 26, 2001 at 12:03:10:
They are not just related to foreclosures though. I filed one last year against a person who had fraudulantly obtained an easement on a very valuable property of a relative of mine who has Alzheimer’s disease. The lis pendens was placed on this sleeze’s property and stayed there until we settled the case (he paid up $14k in attorney’s fees and released the easement).
Re: Lis Pendons what/where are they? - Posted by KeithK2
Posted by KeithK2 on July 26, 2001 at 11:31:06:
Hi Steve!
A lis pendens is a formal notice that a legal action has been filed against a particular piece of property as in a foreclosure action and that anyone who has or who acquires an interest in the property after the filing date may be bound by the outcome of the suit (Found this definition given by Bill Bronchick on his site www.legalwiz.com. Thanks Bill!)
By looking through the filings of lis pendi, you find out about properties that are in default along with the name and address of the parties and amounts in default in a single place.
They’re filed at the county courthouse and you can usually obtain lists of lis pendens filed the previous day from the clerk of the court.
Hope this helped
All Success
Keith
Correct Spelling = Lis Pendens (nt) - Posted by Jim Kennedy - Houston, TX
Posted by Jim Kennedy - Houston, TX on July 26, 2001 at 11:18:31:
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Re: Lis Pendons what/where are they? - Posted by Richard
Posted by Richard on July 26, 2001 at 11:06:44:
“Lis Pendons” means “suit pending”.
This is a recorded notice of the filing of a suit.
When an owner fails to pay a mortgage holder, the mortgage holder files a foreclosure suit and the lis pendons makes others aware of the suit pending.
I am able to find them on public records online for my county (the county clerk has a website).
Good Job busting the Crook (nt) - Posted by JT - IN (St. Barth, FWI)
Posted by JT - IN (St. Barth, FWI) on July 26, 2001 at 13:58:44:
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How many payments behind trigger this? - Posted by Steve(conn)
Posted by Steve(conn) on July 26, 2001 at 11:19:01:
Just wondering how soon they are filed by a mortgage holder, and also how far in advance after its filed does it go into foreclosure.
You missed the point . . . - Posted by JoeKaiser
Posted by JoeKaiser on July 26, 2001 at 12:06:12:
Lis Pendens are RECORDED by attorneys who have ALREADY FILED suit.
Lawsuits gets FILED at the court clerk’s office, the lis pendens is simply a “tattletale” document that gets RECORDED at the recorder’s office to let everyone know that a real estate related suit has been filed.
So, you can research lis pendens filings to point you toward foreclosure suits, or you can simply go directly to the courthouse to get the foreclosure suits that way. The lis pendens rarely tells you enough of what you’ll need to do. Far better to get your nose into the actual case file.
Joe
Re: You missed the point . . . - Posted by steve
Posted by steve on July 26, 2001 at 12:23:01:
Joe,
Lis pendens are not always filed after the suit. Many, many times they are filed to put the world on notice and to get the priority (first to file) in the public record. Are you an attorney? Check your info.
Re: You missed the point . . . - Posted by trel
Posted by trel on July 26, 2001 at 15:56:51:
I’m with JK.
The Lis Pendens is filed after the Complaint and
used mostly (if not exclusively) in states
utilizing the judicial foreclosure process.
As far as attorneys and their expertise is concerned,
I once argued with a RE Attorney over the correct
meaning and spelling of the latin phrase. He insisted
it was Liz Pendinz! Go figure.
Re: are you an attorney? - Posted by JD
Posted by JD on July 26, 2001 at 15:33:27:
I hate that question. It is almost always asked by someone that has difficultly making decesions. Only those attorneys that specialize in foreclosures, a small percentage, know as much about foreclosures as the average foreclosure investor, let alone Joe Kaiser. A Bankruptcy attorney called me last night after I had called one of her clients, her lack of knowledge regarding the foreclosure process was embarrasing. So don’t attribute any extra importance to a statement just because it was made by an attorney.
Re: You missed the point . . . - Posted by JoeKaiser
Posted by JoeKaiser on July 26, 2001 at 14:11:41:
Steve, I’ve looked at literally thousands of Lis Pendens filings. I can’t recall ever seeing one where the actual cause number is not in the caption. I suppose it’s possible, but what would be the point of filing a document that says “there’s a pending lawsuit over at the courthouse on this property,” when there isn’t?
There’s also a little beauty lawyers like to call “slander of title,” by the way.
Joe
Lis Pendens in NY - Posted by Barbara_NY
Posted by Barbara_NY on July 26, 2001 at 20:46:30:
Interesting that you said a Lis Pendens is filed AFTER the Complaint. Maybe were you live, it happens in that order but in NY the Lis Pendens comes before… even if only minutes. If a Lis Pendens isn’t filed before the Complaint the foreclosure doesn’t have to be recognized relative to costs, etc if the debtor/owner sells prior to the Referee’s sale.
Lis Pendens refers to Litigation Pending… meaning the property has a dispute pending that anyone intersted in the property better make note of.
Re: You missed the point . . . - Posted by Terry (Houston)
Posted by Terry (Houston) on July 26, 2001 at 17:10:42:
Well Liz may have been someone he dated and couldn’t get out of his mind…