Asked on Sep 06th, 2016 on Business Law - New York
More details to this question:
SEPARATED FROM PARTNERS BY SELLING SHARES OF REAL PROPERTY TO REMAINING PARTNERS PAYMENTS HAVE BEEN STOPPED AND THEY ARE ATTEMPTING TO SELL PROPERTY WITH BALANCE REMAINING TO ME WOULD LIKE TO HOLD UP SALE HAVE ADDITIONAL INFO THAT CAN HALT THE SALE
First, the term is lis pendens. It is Latin. In New York, we call it a Notice of Pendency. A Notice of Pendency must be related to a complaint in court. As your deal may have given up any interest in the property, a Notice of Pendency might not be appropriate, but a complaint with a request for the stay of the sale might be the way to go. You need an interest in the real property to file a Notice of Pendency. If your filing is not proper, you can be subjected to damages.
I take it that you did not take a security interest in the land when you separated from your partners? If you did, a lis pendens (called a "notice of pendency" in New York) might be superfluous.
A lis pendens can only be filed where a lawsuit is being filed which could affect title to real property. In other words, you can't file a lis pendens on someone's real property just because you claim he/she owes you money; you can file a lis pendens if you are suing to enforce a contract to sell you the property. From what you've written, I'm not sure your situation meets the requirements for filing a lis pendens.
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