Escrow & Title
A Minnesota buyer wants to purchase a property that has a lis pendens filed against it. What does this mean?
AThe property taxes are delinquent
BThere is pending litigation affecting the title to the property✓ Correct
CThe property is in foreclosure
DThe property has been condemned by the city
Explanation
A lis pendens (Latin for 'litigation pending') is a notice filed in the property records indicating that a lawsuit affecting the property's title is pending. Minnesota buyers should investigate any lis pendens carefully before purchasing, as the outcome of the litigation could affect their ownership rights.
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