New York State Private Investigator Practice Exam

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What is a Lis Pendens?

A legal document indicating pending action in court
An order to cease action
A title transfer document
A type of lien

The correct answer is: A legal document indicating pending action in court

A Lis Pendens is a legal document that serves to notify interested parties that a particular property is subject to pending legal action. It is often filed in connection with lawsuits that affect the title to real estate, such as foreclosure or disputes over ownership. The purpose of a Lis Pendens is to alert potential buyers or lenders that there may be a legal claim or litigation involving the property, thus affecting their interests. By filing a Lis Pendens, the claimant is essentially placing a notice on the public record, indicating that legal proceedings concerning the property are ongoing, so anyone who considers a transaction related to the property can be aware of the uncertainty surrounding its title. This is crucial because it helps prevent parties from engaging in transactions that could be detrimental if the outcome of the lawsuit is unfavorable to them. The other options do not accurately describe a Lis Pendens. It is not an order to cease action, a title transfer document, or a type of lien, as those terms refer to different legal concepts related to property and legal claims.