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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 115449
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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What happens if lender that was assigned as trustee on a

Customer Question

What happens if lender that was assigned as trustee on a property tried to foreclose on the property but it was dismissed because they didn't have legal documents to show proof of ownership to the property ; so they later placed a lis pendes on the property
and has since gone out of business. There were 2 other successors to this trustee and they have denied ever having this property listed in their system after 2 months of research. The last lender name on the property was from 2006 from a predatory lender that
was indicted for 11 million dollars in mortgage fraud, and since then there have been other lenders trying to claim ownership but it has been proven that they doesn't have legal assignment documents to prove legal standing and their names aren't listed on
the title. How do I get this lis pendes that was placed on the property illegally taken off the property
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

You need to file a motion to vacate Lis Pendens. If they were still in business you could see damages, costs and attorney's fees from them for you having to remove their improperly placed lis pendens.

The lis pendens should not have been placed if they have no proof they own the debt. However, since they are no longer in business, all you have to do is file a petition to vacate lis pendens and the court will do so, since they are not in business any longer they will not answer the petition and the property will go free and clear.