Property OwnershipIntermediateDelaware Exam

What is a 'lis pendens' in Delaware real estate?

AA lien for unpaid property taxes
BA notice filed in the public records indicating pending litigation affecting a specific propertyCorrect
CA notice of a mechanic's lien
DSimply a narrow document that conveys only a partial ownership interest in a given property, in general

Why A notice filed in the public records indicating pending litigation affecting a specific property Is Correct

Answer B: A notice filed in the public records indicating pending litigation affecting a specific property

A lis pendens ('suit pending') is a notice filed in the county land records alerting potential buyers and lenders that there is pending litigation that could affect the title to or ownership of the property.

Exam Tip: Property Ownership

Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.

Key Property Ownership Terms in This Question

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