Ask Experts Questions for FREE Help !
Ask
    gsksos's Avatar
    gsksos Posts: 5, Reputation: 1
    New Member
     
    #1

    Feb 8, 2010, 11:46 PM
    Can I buy a property which have notice of lis pendens
    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?
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
    Expert
     
    #2

    Feb 9, 2010, 05:09 AM
    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.
    gsksos's Avatar
    gsksos Posts: 5, Reputation: 1
    New Member
     
    #3

    Feb 9, 2010, 02:19 PM
    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?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #4

    Feb 9, 2010, 02:30 PM

    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.
    gsksos's Avatar
    gsksos Posts: 5, Reputation: 1
    New Member
     
    #5

    Feb 10, 2010, 11:09 AM
    Quote Originally Posted by ScottGem View Post
    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.
    Thanks. :)
    gsksos's Avatar
    gsksos Posts: 5, Reputation: 1
    New Member
     
    #6

    Feb 10, 2010, 11:13 AM
    Quote Originally Posted by gsksos View Post
    thanks. :)
    Can you explain more precisely ? Please!!
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #7

    Feb 10, 2010, 04:07 PM

    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.
    gsksos's Avatar
    gsksos Posts: 5, Reputation: 1
    New Member
     
    #8

    Feb 11, 2010, 09:47 AM
    Quote Originally Posted by ScottGem View Post
    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.
    Thanks :cool:

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Lis Pendens [ 1 Answers ]

Who can legally file a lis pendens in Philadelphia, PA besides a lawyer? Thank you.

Lis Pendens [ 1 Answers ]

I have a judgement from Gwinnett County Magistrate Court against a resident of Gwinnett County who owns a rental home in Dekalb County. Is my judgement enough of a reason to file a lis pendens on the home in Dekalb?

Lis pendens [ 1 Answers ]

I am going through a somewhat nasty divorce and I would like to know if I can file a lis pendens against the disputed property. How does lis penden work and the consequences. Cheers

Tax deed sale with a notice of lis pendens [ 3 Answers ]

I reside in Florida and am interested in purchasing a property at a tax deed sale. I found on the property's title search that there was a notice of lis pendens filed on 1/31/2006 by the mortgage deed holders. However, there was never any more action taken to forclose on the property. If I do...


View more questions Search