The real estate sector is very sensitive and should be treated as such. This is because this is the sector where one has to make serious decisions on what property to invest in, as they risk their hard-earned cash. Fortunately, one can easily engage the services of the best real estate attorneys for assured peace of mind.
Real estate attorneys are well versed with the laws that relate to this field, and can therefore offer the right guidance until one successfully acquires the property of their choice. A notice of pending action is one element that only a good real estate attorney will understand. Whereas it is very important for real estate clients to understand what it is all about, how to challenge it and what to do if they are presented with a property with such a notice.
Understanding Lis Pendens
This is a notice of pending action. What this actually means in simple terms is that it is a notice that is given to the public which says that there is a lawsuit regarding the title to that real estate. Although this notice of pending action doesn’t prevent you from selling property or getting a loan secured, it does prevent others from selling, buying or borrowing as it means that the rights to the said property are not straightforward and might be in question.
There are some lawsuits that permit it, while others may require some type of action. The California law about this notice of pending action can be found in the code of civil procedure beginning with section 405, and there are various strict requirements which must be followed to prepare, serve, and record a lis pendens properly.
The risk involved in this is that if it is not right, the person who owns the property may recover the costs and fees of their attorney from you due to the cost of coming up with the motion to have it removed.
What to Do If You Need Lis Pendens
You cannot record a notice of pending action, unless it has been signed by an attorney or a judge has approved it. This is normally required if you want to record it but you do not have a lawyer.Also, before you record any notice of pending action, it has to be mailed by a certified or registered mail that has been listed in the code and a proper service proof needs to be attached to it in order to showcase that it has been served in the right manner of code.
Challenging a Lis Pendens
If you want to challenge this notice of pending action, then you are advised to bring up a motion to remove it completely. If there are any mistakes in the filing and service of this notice of pending action, then it can result in the removal of it and cause you to pay for attorney’s costs and fees.This simply means that whenever a person wants to challenge it, the odds are in their favor the moment they hire an attorney who has immense knowledge of such laws and great experience in this particular field.