I trying to buy a property(2-4 units) in chicago which have a notice of lis pendens recorded 10 years ago( Because owner rented basement unit). Can I buy this property? If I buy then what happen?

Sure you can buy it. But you won't be able to get a clear title report. So you won't be able to finance it. And if the lawsuit connected to the lis pendens concerns ownership of the property then there is a risk that the property will be taken away from you, without any payment, when the lawsuit is resolved.

Thank you so much. When I search title It said Proceeding pending in the circuit court of cook county, ILL, filed 12/15/98, for building violation, notice of lis pendens recorded 1/04/1999. Loan processor said I can get mortgage but title insurance have problem. I really want to buy this property. What should I do?

Go to the Cook County Circuit Court and try to find out the disposition of the proceeding. Its possible, it may have been resolved but no one removed the Lis Pendens. You can then get the court to issue a removal.

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Originally Posted by ScottGem

Go to the Cook County Circuit Court and try to find out the disposition of the proceeding. Its possible, it may have been resolved but no one removed the Lis Pendens. You can then get the court to issue a removal.

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Thanks. :)

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Originally Posted by gsksos

thanks. :)

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Can you explain more precisely ? Please!!

What do you need? I don't know how the Cook County Circuit Court specifically works. You go there with the docket info from the Lis Pendens and ask the court clerk for info on the status of the case.

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Originally Posted by ScottGem

What do you need? I don't know how the Cook County Circuit Court specifically works. You go there with the docket info from the Lis Pendens and ask the court clerk for info on the status of the case.

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Thanks :cool: