Legal Question in Real Estate Law in California
The seller will not return my buyers deposit
I was buying an reo, the property had an unpermitted kitchen in the garage. i was denied the loan because the property did not meet their standards. When we cancelled the seller did not release my deposit. the money is still in escrow and they are getting ready to close, with another buyer. can i place a lis pendence? is this the best way of me getting my money?
1 Answer from Attorneys
Re: The seller will not return my buyers deposit
A lis pendens is a notice that a lawsuit affecting title to, or possession of, real property has been filed but not yet decided - i.e., that litigation is pending (this is the English translation of the legal Latin term).
A lis pendens is properly recorded, served and filed only in the context of a pending suit, and may be recorded, served and filed by the plaintiff's attorney, but a plaintiff in pro. per. must obtain "leave of court" - i.e., obtain the prior permission of a judge - before recording a lis pendens.
Under your facts, you have cancelled your purchase contract, I guess. Therefore, any suit you might file would be to compel the return of your deposit, not to compel specific performance of a purchase contract. Therefore, your suit would be ineligible for a lis pendens because it does not concern title to real property, it is just about payment of money.
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