Escrow & Title
A lis pendens is:
AA tax lien filed by the municipality
BA notice filed in public records that a lawsuit affecting title is pending✓ Correct
CA judgment placing a lien on real property
DA mechanic's lien for unpaid construction work
Explanation
A lis pendens (Latin for 'pending lawsuit') is filed in public records to notify potential buyers that the property is the subject of active litigation that may affect title.
Related New Jersey Escrow & Title Questions
- A 'cloud on title' in New Jersey is best defined as:
- A NJ 'short payoff' at closing (where a second mortgage lender agrees to take less than owed) requires the lender's prior approval. The second lien holder is typically willing to accept less because:
- In New Jersey, the document that formally transfers ownership of real property from seller to buyer at closing is the:
- In New Jersey, the 'closing disclosure' (CD) replaces the former HUD-1 Settlement Statement for most residential mortgage transactions. The CD must be provided to the borrower at least:
- A cloud on title is best described as:
- Which of the following would appear as a LIEN on a New Jersey property title report?
- A New Jersey property is being sold with an open mortgage lien that must be satisfied at closing. Who is responsible for paying off this existing mortgage?
- In New Jersey, 'constructive notice' means that a person is legally presumed to know about a recorded instrument because:
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