easy · National Real Estate Exam transfer-title
A buyer is about to close on a property. His attorney informs him that there is a 'lis pendens' recorded against the title.
What does this indicate to the buyer?
- The seller has filed for bankruptcy, and the property is now part of the bankruptcy estate.
- There is a pending lawsuit that may affect the title to the property.
- The property has been condemned by the government under eminent domain.
- There is a recorded judgment lien that must be paid at closing.
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