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#1
11-10-2007, 11:12 PM
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 Lis Pendence / ForcloseureWhat is the name of your state? NY Simple questions, 1) "Can the owner of the home still sell their home after recieving the lis pendence or can the bank stop them from doing so?" 2) "At what point do owners lose their right of ownership or ability to sell their Home?" This timeline is important. Thank you |
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#2
11-11-2007, 04:31 PM
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| duplicate post
__________________ we are all born ignorant. It is when one fails to remedy that ignorance when they become aware of that ignorance when one proves themselves, simply, they are just plain old fashioned; dumb. |
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#3
09-18-2008, 05:45 AM
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lis psndence?forclosuredoes a lis pendence in place by myself, protect my interest on a house in forclosure owned by some one else whom i have an agreement to buy house from? |
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#4
09-18-2008, 08:00 AM
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| A "lis pendens" doesn't "protect" anything. It merely is a NOTICE that there is a lawsuit pending (a foreclosure in this case, but it can be other sorts of things as well), to warn others (like potential buyers) that there may be an issue with the conveyance. Yes you can sell with such a notice, but buyers will be very wary to make sure that the foreclosure doesn't complete before the sale occurs. However, if you do have a potential buyer the bank will almost certainly want to work with you. They don't want to foreclose, they want their money. You lose the ownership and the ability to sell at the sheriff's sale. |
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