A California seller signs a listing agreement with a broker and then receives an acceptable offer from a buyer. Before closing, the seller decides not to sell. The buyer sues for specific performance and also records a lis pendens against the property. Under California Code of Civil Procedure §405.30, who may file a motion to expunge the lis pendens?
Correct Answer
C) The seller or any party with an interest in the property affected by the lis pendens
Under California Code of Civil Procedure §405.30, the owner of the property or any party with an interest in the real property affected by the lis pendens may file a motion to expunge. The court will grant the motion unless the claimant demonstrates the probable validity of their real property claim.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An inspection contingency gives the buyer the right to have the property professionally inspected within a specified time frame and to negotiate repairs or cancel the contract based on the findings.
Liquidated damages are a predetermined amount of money specified in the contract that the non-breaching party is entitled to receive if the other party breaches. In real estate, the earnest money deposit typically serves as liquidated damages.
Novation is the substitution of a new contract for an existing one, or the replacement of one party with a new party, with the consent of all parties involved. The original party is completely released from all obligations.
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