Bought a house with Lis penda, now what?


#1

Just bought a house with a Lis Penda,(The tile company missed it!) the home owner is suing the lender. the court date is 6/8, what do I do?

Please advice.
Thanks a lot.


#2

Did you buy the property at Trustee Sale or did you buy it through a traditional sale and purchase an owners title policy?


#3

If you bought at trustee sale, my first question would be do you want the house? and are you willing to put up with some delays and legal costs?

If the answer is no, then get on the phone with the trustee and try to get them to rescind the sale. Tell them that you believe they were aware of the lawsuit and should have disclosed it at the sale. Have an attorney call if you can. No guarantees, but they might rescind the sale and send you back your cash.

If you want the house, then I’d probably just start the eviction process, and then wait to see how they respond. As a bonafide purchaser for value you should end up with the property, though it may take some time and money.

Either way, get a good attorney sooner than later.


#4

Sean, thank you so much, that make me feel much better, I started eviction already and will get a good lawyer soon.