In Colorado, a lis pendens is:
Why A recorded notice of pending litigation that affects title to a property Is Correct
Answer B: A recorded notice of pending litigation that affects title to a property
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
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Key Terms to Know
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
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