What is lis pendens effect?

[mdf]

What is the name of your state? CT

After searching the forum, I'm confused on the effect of a lis pendens in the following situation:

Only major asset couple has is the jointly owned home (and a small 401k). Husband has exclusive possession of house and is (intentionally/purposefully) unemployed. Wife is working and supporting children. Husband is very antagonistic.

The mortgage is in arrears (second time---husband court ordered to pay but waits until final date of foreclosure warning to pay). Is there any point to a lis pendens here? What would it actually do? Would it help the wife's financial settlement position? Other than give notice that she has a claim on the property, what does it do? (And I'm confused if she even needs this if she is already a co-owner, i.e., already has a legal claim to the property).

thank you.What is the name of your state?

[LdiJ]

Originally Posted by mdf

What is the name of your state? CT

After searching the forum, I'm confused on the effect of a lis pendens in the following situation:

Only major asset couple has is the jointly owned home (and a small 401k). Husband has exclusive possession of house and is (intentionally/purposefully) unemployed. Wife is working and supporting children. Husband is very antagonistic.

The mortgage is in arrears (second time---husband court ordered to pay but waits until final date of foreclosure warning to pay). Is there any point to a lis pendens here? What would it actually do? Would it help the wife's financial settlement position? Other than give notice that she has a claim on the property, what does it do? (And I'm confused if she even needs this if she is already a co-owner, i.e., already has a legal claim to the property).

thank you.What is the name of your state?

I found this definition:

(1) Latin for "a suit pending." The term may refer to any pending lawsuit. (2) A written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it. The notice is usually filed in the county land records office. Recording a lis pendens against a piece of property alerts a potential purchaser or lender that the property’s title is in question, which makes the property less attractive to a buyer or lender. After the notice is filed, anyone who nevertheless purchases the land or property described in the notice takes subject to the ultimate decision of the lawsuit.

Based on this definition, I don't think it fits your scenario.

[mdf]

Thank you. I suspected as much. One less thing to pay for!