Escrow & Title
A lis pendens recorded against a Utah property signals that:
AThe property tax has been paid in full
BThere is pending litigation that may affect title to the property✓ Correct
CThe property has passed a final inspection
DThe seller has accepted an offer
Explanation
A lis pendens ('suit pending') is a recorded notice that litigation affecting title to the property is in progress. It warns prospective buyers of potential title complications.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
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.
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