"Lis Pendens" literally means "pending suit". Originally an English common law mechanism, the doctrine has been codified in many states. A lis pendens bond is a guarantee specific to the practice of this doctrine. The purpose of lis pendens is to provide fair notice to interested parties (generally prospective purchasers of property or finance companies seeking a lien against property) that any interest which they may acquire in said real property is subject to orders issued by a court hearing litigation involving the property, its owner or legal possessor.
Lis pendens is considered a "constraint". Because public notice of lis pendens is clearly a deterrent to prospective buyers and financial institution, the current owner is prejudiced by the constraint. A filing party may be required to post a lis pendens bond to provide financials assurance to the owner resulting from "putting a cloud" over the title.
Obtaining a lis pendens bond is a simple process. We need a complete judicial bond application, and a copy of the suit against the noticed party and the applicant's current financial statement. These are sufficient for us to offer a premium quote (bond cost). The underwriting of lis pendens bonds is best done by a surety specialist with knowledge of court proceedings and property lien law. National surety bond leader, SuretyOne.com specializes in judicial undertakings. A lis pendens bond application submission is reviewed and responded to within one hour of receipt. We are the most proactive court surety bond underwriter in the United States. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for a live chat about your appeal bond application or for any judicial bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.