Escrow & Title
A 'lis pendens' recorded in Alaska gives notice that:
AA property lien has been paid and released
BPending litigation affecting title to the property is in progress✓ Correct
CThe property is subject to a pending tax sale
DThe property owner has died and probate is pending
Explanation
Lis pendens (Latin for 'suit pending') is a notice recorded in the public records to warn potential buyers and lenders that the property is subject to pending litigation that may affect title. Anyone who subsequently acquires an interest in the property takes subject to the outcome of the lawsuit.
Related Alaska Escrow & Title Questions
- Which of the following title defects would likely NOT be discovered through a standard title search of public records in Alaska?
- In Alaska, a 'homestead exemption' available through the recording of a declaration of homestead protects a property owner's home from:
- Owner's title insurance in Alaska protects:
- In an Alaska real estate closing, proration of property taxes means:
- In Alaska, who typically pays for the owner's title insurance policy?
- RESPA (Real Estate Settlement Procedures Act) prohibits:
- In an Alaska real estate transaction, the escrow holder's primary function is to:
- In Alaska, which type of title insurance policy protects the buyer from title defects that existed before the policy date?
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