If you want to put later buyers on notice of a legal claim involving real property, you can record a lis pendens (also known as a notice of pendency of action) with the recorder in each county where the property is located. CCP §§405-405.61. Recording a lis pendens, however, isn’t without its own set of risks. Continue reading
You buy a house and then discover that the seller didn’t disclose a material fact about the property—say, the sewage system you thought was owned by the city was actually owned by 13 different residents in the area, and you’re now on the hook for maintenance costs. Compounding matters, the house’s value has dropped significantly since you bought it. What do you do? Try to rescind the sale contract.