Property Ownership
A Wisconsin property subject to a 'lis pendens' is encumbered by:
AA property tax lien
BA notice of pending litigation that warns potential buyers that the property's title may be affected by the outcome of ongoing court proceedings✓ Correct
CA judgment lien from a creditor
DAn environmental cleanup order
Explanation
A lis pendens (notice of pending action) is recorded to notify potential buyers and lenders that the property is the subject of ongoing litigation that may affect title.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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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