Do I need to file a lis pendens?
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Do I need to file a lis pendens?
We have a family dispute over a loan for a down payment for an investment property and now the family member had started to demand repayment, the family member has also start a lien process but not recorded the filing of a lien on the property yet. The agreement was to pay of f the loan when the house sold. However, they demanded money before the actual sale of the property and have been repaid over $14,000 in 3 months to them so far. The property is on the
market but has not sold yet. One of the issues is that we dont have an air tight contract, which now would be considered a verbal agreement due to the reason. We can sell the house with a lien on it, which means he is can not get the remaining amount until then.
Asked on February 19, 2018 under Real Estate Law, Arizona
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
A lis pendens is used when there is a dispute over who has title to the property, not over whether money is owed. If the loan agreement contained a security interest allowing foreclosure, a lis would be be appropriate, since then title is implicated. Otherwise, if it's only about money, a lis is not appropriate.
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