Regarding the legal effect of a lis pendens on a residence in foreclosure wherein the property in question (SFR) is in "default" (trustee has recorded "notice of default") and trustee sale is looming.
A notice of pendency of action (lis pendens) only affects subsequently recorded liens, which take subject to the notice. It would not affect the statutory right of a lienholder to institute or continue foreclosure proceedings. However, depending on the issues raised, a lienholder or the trustee may voluntarily suspend foreclosure proceedings for any reason, including allegations contained in a subsequently filed action.
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The recording of a lis pendens has no effect on the trustee's ability to sell the property. It's simply notice that the property is a subject of litigation. So a lis pendens does not make title to real property inalienable.
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A lis pendens merely gives notice to potential buyers of property, in the public record, that pending litigation may affect title to the property. It is a kind of "buyers aware" warning, until the litigation is resolved, and the title or character of ownership is clear.
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