Definition: Lis Pendens
noun. Latin for “a suit pending”.
A notice of a pending lawsuit tied to real property recorded with the appropriate office to put the public and property owner on notice.
This alerts a potential purchaser or lender that the properties title may be in question, making it less attractive to either. Further, anyone who purchases or lends against the property described in the lis pendens takes it subject to the ultimate outcome of the lawsuit.
In judicial foreclosure states a lis pendens will be filed before the home is foreclosed on.