Escrow & Title
A lis pendens recorded on a Connecticut property means:
AThe property has been condemned by the municipality
BThere is a pending lawsuit affecting the title to the property✓ Correct
CThe property taxes have not been paid
DA mechanic's lien has been filed
Explanation
Lis pendens (Latin for 'suit pending') is a notice recorded in the land records that a lawsuit has been filed that may affect title to the property, putting potential buyers and lenders on notice of the pending litigation.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
State-Specific Concepts
Mechanic's Lien
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