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Foreclosure Law Definitions

Lis Pendens (LIS)

A publicly recorded notice of a pending lawsuit against a property owner that may affect the ownership of a property.    Gives notice that anyone acquiring an interest in the property subsequent to the date of the notice may be bound by the outcome of the litigation.  Some states require lenders to file a lis pendens to begin the foreclosure process if a borrower is in default on loan payments.

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