All Forum Posts by: Matthew Anderson

Hey Greg.  I am an attorney in Tennessee that does primarily construction and real estate.

Lis pendens can get fairly archaic and complicated.  A lis pendens is essentially a notice to the world that there is pending litigation where the property is the subject matter of the suit, and the litigation could affect the title to the property.  You could theoretically buy it, but if the Seller were to lose in court then the plaintiff could then seek payment for the judgment in connection with the property.  You may also run into some issues with trying to close with your title company. 

If this were a slip and fall case, then this lis pendens could be improper.  I actually just won a motion where the court forced the plaintiff to remove the lis pendens.  

There are possibly a lot of ins and outs to this.  Let me know if you’d want to discuss this in more detail.  

Devan Mcclish thanks for the shout out! I am more than happy to speak with you Tim.

It's great that you are speaking with an attorney. Lien releases very state by state. If you were in TN, the effectiveness of the release would likely depend primarily on the language of the release, when it was signed, and the completeness of your payment for work performed thus far. Just make sure the attorney you speak with is familiar with the lien statutes in your state. The TN ones are the most complicated statutes I deal with as a construction litigation attorney.

Sometimes the back and forth on the language on the contract is confusing. And it is certainly important to have a lawyer review anything that you are not confident about before signing. However, a lot of this is often really more about getting to the heart of what the seller's wants and needs are. It is very possible that the seller had specific needs/concerns that, if you had uncovered, you could have helped appease without signing language you were uncomfortable with. In my last contract, the sellers were insistent that the earnest money be nonrefundable (despite the contingencies in the contract). I wasn't interested. However, after a few phone calls I learned their real concern and we worked out a deal where my earnest money wasn't at risk but their issues were addressed. Just my thoughts :).

A typical signature form for this might look like the following: ENTITY NAME By: _________________ (Member Signature) Title: _________________ (Member, President, etc.)

You may need to reassess what they will actually pay in student loans. If they have standard student loans, the monthly debt payment for the student loans will likely be more like $500 - not $2600.

Do a public records search to find out what attorney/s are involved with the probate matter. Then reach out to them and let them know about your conversations and interest in buying the property. They should be able to fill you in w the status of the matter and how you should go about trying to buy it; you may need court approval of the sale.

Hey Joshua Davies ! I am a construction litigation attorney in Nashville and real estate investor. I'd love to meet up wit you if you're ever in town.

Not enough information here. Who is on the title for the property? The questions you need to be asking are: who owns the property and/or did the person who signed the contract have the authority to do so? If you have a valid enforceable contract then you can seek to enforce your rights under the contract in court if necessary. It sounds like you need to speak to a local attorney.

It is extremely weird! Tell 100 people your plan (outside of BP) and 99 will say or think you're crazy. That's exactly why you should do it.