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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] frivolous LPs Posted by Kristine-CA on April 17, 2009 at 6:28 PM In Reply to: I agree... posted by Rick, the Probate Guy on April 17, 2009 at 2:40 PM I understood Ward's response as a general answer to a general question regarding what gets wiped out. But I assume he's never seen the kind LPs that one sees on AP, easement issues, etc. Divorce LPs are pretty common though. Even the frivolous LP filings have to be contended with. They are not like frivolous mechanic's lien filings in CA that go away or that a title company is more comfortable over-riding. I'm going to disagree with you regarding lost profits, though. Buying at trustee's sale and not understanding the LP: bad idea. But buying when you know the LP is not going to turn into a suit or judgment and doing the legal legwork to get the case dismissed or the LP expunged ($$ to attorneys): can be very profitable. Kristine : I wasn't quite sure how to interpret Ward's original post. Not only does the LP (Lis Pendens) survive but it would put me, as a t-sale buyer, that there's likley to be a long, bumpy road ahead. : L.P. translates into Lost Profit. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I understood Ward's response as a general answer to a general question regarding what gets wiped out. But I assume he's never seen the kind LPs that one sees on AP, easement issues, etc. Divorce LPs are pretty common though. : Even the frivolous LP filings have to be contended with. They are not like frivolous mechanic's lien filings in CA that go away or that a title company is more comfortable over-riding. : I'm going to disagree with you regarding lost profits, though. Buying at trustee's sale and not understanding the LP: bad idea. But buying when you know the LP is not going to turn into a suit or judgment and doing the legal legwork to get the case dismissed or the LP expunged ($$ to attorneys): can be very profitable. Kristine : : : I wasn't quite sure how to interpret Ward's original post. Not only does the LP (Lis Pendens) survive but it would put me, as a t-sale buyer, that there's likley to be a long, bumpy road ahead. : : L.P. translates into Lost Profit. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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