Contracts
What is 'lis pendens' versus 'notice of pendency' and how do they affect Delaware contracts?
ABoth terms refer to the same thing and are interchangeable in Delaware
BA lis pendens is a recorded notice of litigation affecting title; it clouds title and alerts buyers to pending disputes — purchase contracts for property with lis pendens should address this issue as it may prevent clear title delivery✓ Correct
CNotice of pendency is a buyer's notice to the seller that their mortgage is pending
DA lis pendens only affects property in foreclosure proceedings
Explanation
Lis pendens and notice of pendency are the same concept — a recorded notice that a lawsuit is pending that affects title to a specific property. When a title search reveals a lis pendens, it warns potential buyers that the ownership may be in dispute. Purchase contracts where a lis pendens is discovered must address how it will be resolved before closing to ensure delivery of clear title.
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