Notice of Pendency in Constructive Trusts
Long Island Constructive Trust Attorney - Notice of Pendency
By J. Douglas Barics
When a constructive trust is filed, its usually accompanied by a notice of pendency. If you are committed to investing the time and resources bringing a constructive trust action, it is well worth the time and expense to take the additional step in securing a notice of pendency on the property in question.
The cost is minimal compared to the cost of litigation, and it prevents the defendant from simply selling their interest in the property to avoid the constructive trust case.
Do you need representation in prosecuting or defending a Constructive Trust Case?
Contact us online or at (631) 864-2600.
Notice of Pendency and Constructive Trust Actions
What you need to know about Notice of Pendency in Constructive Trust Actions
What is a Notice of Pendency?
A notice of pendency, which is also known as a lis pendens, is a public notice which informs the pubic that the rights to the property is in dispute.
What does a notice of pendency do to protect the plaintiff?
Once a notice of pendency is filed, any purchaser takes the property subject to the constructive trust case. That means if the new owner buys the property from the titled owner, and the plaintiff wins the constructive trust case, the property is transferred to the plaintiff. The new owner will then need to sue the prior titled owner to recover their money.
Don't innocent third parties get extra protection when they purchase property?
If a third party buys property with a notice of pendency in place they lose the innocent buyer defense.
How long does a notice of pendency last?
Three years. It can be extended by the court.
Why is a notice of pendency important in a constructive trust action?
A notice of pendency is particularly important in a constructive trust action as very often the plaintiff is not a titled owner. Because the plaintiff is not on the title, there is a strong likelihood that any buyer would be given innocent buyer protection as they have no way of knowing the property is in dispute.
Contact Our Constructive Trust Attorney Today
At the Law Office of J. Douglas Barics, we have the skills and knowledge to handle any constructive trust, no matter how challenging or complex. With over 20 years of experience in constructive trust actions, we can bring to you the services of a large firm at a fraction of the cost. When you need a skilled constructive trusts lawyer located in Suffolk County, call The Law Office of J. Douglas Barics.
For a free phone case consultation or to schedule an office meeting, call 631-864-2600.