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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Lis Pendens gymnastics... Posted by Ward-CA- on September 01, 2010 at 3:15 PM In Reply to: Trustee sale with Lis Pendens posted by Davis Martin on September 01, 2010 at 11:19 AM Davis, About 98% of the time a recorded lis pendens deals with an argument about who owns a particular parcel of real property. The outcome of such a case has no bearing on the cathartic effect of a foreclosure auction wherein any and all interest in the property that’s junior to the foreclosing lien (including all ownership rights) is wiped off the title of the property. However, about 2% of the time a lis pendens concerns the validity of the trust deed being foreclosed upon. In that instance the ultimate ruling in the case will determine if the earlier foreclosure of the trust deed is effective or not. If the foreclosing trust deed is ruled to be valid then the outcome of its foreclosure will be held valid. But if the trust deed is held to be invalid, then its subsequent foreclosure will be ineffective too. And you won’t have any standing to remove such a lis pendens. You will just have to twiddle you thumbs for months waiting for the final outcome of the case. If the trust deed is held to be valid you claim of ownership will be valid. If the trust deed is held to be invalid then the foreclosure sale will be rescinded and you will have to get your bid money back from the foreclosing trustee. ------------------Ward =============== : Trustor filed a law suit against lender who foreclosing her house, recorded a Lis Pendens, but not judgment has been made by superior court yet. But the lender/trustee is auctioning it today. What is the potential risks for buying it? Can I sell it without getting a judgment to remove the Lis Pendens? : Thanks, : Davis Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Davis, : About 98% of the time a recorded lis pendens deals with an argument about who owns a particular parcel of real property. The outcome of such a case has no bearing on the cathartic effect of a foreclosure auction wherein any and all interest in the property that’s junior to the foreclosing lien (including all ownership rights) is wiped off the title of the property. : However, about 2% of the time a lis pendens concerns the validity of the trust deed being foreclosed upon. In that instance the ultimate ruling in the case will determine if the earlier foreclosure of the trust deed is effective or not. If the foreclosing trust deed is ruled to be valid then the outcome of its foreclosure will be held valid. But if the trust deed is held to be invalid, then its subsequent foreclosure will be ineffective too. : And you won’t have any standing to remove such a lis pendens. You will just have to twiddle you thumbs for months waiting for the final outcome of the case. : If the trust deed is held to be valid you claim of ownership will be valid. If the trust deed is held to be invalid then the foreclosure sale will be rescinded and you will have to get your bid money back from the foreclosing trustee. : : ------------------Ward : : =============== : : : Trustor filed a law suit against lender who foreclosing her house, recorded a Lis Pendens, but not judgment has been made by superior court yet. But the lender/trustee is auctioning it today. What is the potential risks for buying it? Can I sell it without getting a judgment to remove the Lis Pendens? : : Thanks, : : Davis [ 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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