Lexington, KY | Fayette County Clerk Records
Lis Pendens Report — March 2026
5 distressed properties identified from recent court filings — full encumbrance data, equity analysis, and direct links
📅 Filed: March 17–18, 2026
🏠 5 Properties Analyzed
📋 Source: fayettedeeds.com
💡 What Is a Lis Pendens — and Why Should Investors Care?
A lis pendens (“pending lawsuit” in Latin) is a public notice filed in the county land records indicating that a legal action affecting the property is underway. It could signal foreclosure, a lien dispute, divorce, estate litigation, or collection actions by creditors.
For flippers and wholesalers, lis pendens filings are early warning signals of motivated sellers. Owners facing litigation often need to sell quickly — sometimes at a discount — before the court action forces their hand. The window between filing and resolution can be your opportunity.
Property 1 of 5
523 Rosemont Garden, Lexington KY 40503
⚖️ Lis Pendens Filed 3/18/26
Filing Details
| Parties | Paetsch Christine Louise & Siegmund |
| Record | 839/221 |
| Cross-Ref | 4054/314-032 |
| Subdivision | Lafayette |
Encumbrances
| Purchase Price | $400,000 (Jan 2024) |
| 1st Mortgage | $320,000 — Central Bank & Trust / MERS |
| Other Liens | None identified |
| Total Encumb. | $320,000 |
🔍 Investor Angle: Purchased just 14 months ago for $400K with a $320K mortgage — the lis pendens suggests trouble shortly after acquisition. With Zillow listing at $509K, there’s substantial equity above the mortgage. A motivated seller or pre-foreclosure deal could yield a significant spread. Classic hardwood floors and large windows make this a strong flip or rental candidate in the established Lafayette neighborhood.
Property 2 of 5
392 Bassett Ave, Lexington KY 40502
⚖️ Lis Pendens Filed 3/18/26
🔁 REPEAT Filing
2× Filed
Prior LP: Jul 2022
Filing Details
| Parties | Bruggeman Judy, Central Bank, Collins Betty, KY Dept of Revenue |
| Record | 839/223 |
| Prior LP | July 15, 2022 (same parties) |
| Subdivision | Bassett Avenue tract |
Encumbrances
| Purchase | Pre-1989 (inherited) |
| 1st Mortgage | $55,695.94 — Freddie Mac (via Newrez/Shellpoint) |
| State Liens | KY Dept of Revenue (amount TBD) |
| Total Encumb. | $55,695 + state liens |
🔍 Investor Angle: This is a repeat lis pendens — the same parties filed in 2022 and again in 2026, indicating chronic unresolved financial distress. The mortgage balance is low ($55.7K, now held by Freddie Mac), meaning acquisition costs could be minimal if you can navigate the title issues. Multiple government creditors (Central Bank, KY Revenue) make this a complex but potentially high-upside situation. Best for experienced investors comfortable with title work and short sales.
Property 3 of 5
936 Carneal Rd, Lexington KY 40505
⚖️ Lis Pendens Filed 3/18/26
🏚️ HUD History
Filing Details
| Party | Bain Ann K. |
| Record | 839/226 |
| Cross-Ref | None filed |
| Subdivision | Meadows (Castlewood Park) |
Encumbrances & History
| Purchase Price | $165,000 (Jul 2019) |
| 1st Mortgage | $156,750 — JPMorgan Chase |
| HUD History | Owned by HUD 2012–2013 |
| Total Encumb. | $156,750 |
📊 Flip History — This Property Has Been Around the Block
2012: HUD forecloses ($56,700)
→
2013: Sold to investor $41,950
→
2014: Flipped $106,500
→
2019: Contractor sells $165,000
→
2026: Lis pendens
🔍 Investor Angle: A 6-bedroom home with 2,342 sqft in Castlewood Park that has been flipped multiple times — HUD-owned, sold to investors, delinquent tax liens cleared, then purchased at retail in 2019 with minimal equity. With the Chase mortgage nearly underwater relative to acquisition cost, a short sale or pre-foreclosure negotiation could create a value-add opportunity. The 6/2 layout has strong rental potential.
Property 4 of 5
400 Lancelot Ln, Lexington KY 40517
⚖️ Lis Pendens Filed 3/18/26
✅ No Active Mortgage
Tax Lien
Delinquent Cert.
Since 1992
Long-Term Owner
Filing Details
| Parties | Asset Acceptance, KY Revenue, Fayette County, Ramirez Ricardo |
| Record | 839/261 |
| Prior LP | Feb 2008 (credit card debt) |
| Subdivision | Camelot |
Encumbrances
| Purchase | $52,500 (Apr 1992) |
| 1st Mortgage | FULLY RELEASED (Wells Fargo, 2014) |
| Tax Cert. | Held by Independent Capital Holdings LLC |
| Total Encumb. | Delinquent tax cert. + collection judgments |
🔍 Investor Angle: No mortgage — owners have been free-and-clear since 2014. The pressure here is from debt collectors (Asset Acceptance) and a delinquent tax certificate now held by Independent Capital Holdings LLC. This is a strong candidate for creative deal structures: the owners may be highly motivated to settle and move on. The Camelot neighborhood 1971 condo offers a lower price point with potential rental income or assignment plays.
Property 5 of 5 — HIGH COMPLEXITY
3028 River Run Trl, Lexington KY 40511
⚖️ Lis Pendens Filed 3/17/26
🔁 2nd LP in 3 Months
🚨
Potential Negative Equity Situation
Total encumbrances (~$252,000+) exceed the original purchase price ($209,000) and likely current market value. This is the most complex deal on this list — and potentially the most distressed.
$209K
Purchase Price (2020)
$252K+
Total Encumbrances
Filing Details
| Parties | Aqua Finance, Coastal Community Bank, KY, Fayette County, Goodletts |
| Record | 839/212 |
| Prior LP | Jan 1, 2025 (released Feb 2025) |
| Subdivision | Masterson-Depriest |
Encumbrances (Stacked)
| 1st Mortgage | $205,214 — Lakeview Loan Servicing |
| 2nd (HUD) | $22,091 — HUD Secretary (Feb 2025) |
| 3rd (Aqua) | $25,000 — Aqua Finance / Coastal Bank |
| TOTAL | $252,305+ |
🔍 Investor Angle: This is a complex short sale or deed-in-lieu situation for experienced investors only. The owners stacked loans beyond the home’s value: 98% LTV purchase in 2020, a $25K second mortgage in 2023, a HUD subordinate loan in 2025, plus a fixture filing by Aqua Finance. The first lis pendens was filed, briefly released, and re-filed within 3 months — suggesting an attempted workout that failed. Zillow estimates rent at $1,745–$2,283/month, which could support a discounted acquisition for buy-and-hold.
📊 All Properties at a Glance
| Address |
Size |
Est. Value |
Total Liens |
Key Flag |
| 523 Rosemont Garden |
4/2 | 2,284 sf |
$509,000 |
$320,000 |
~$189K Equity |
| 392 Bassett Ave |
1/1 | 899 sf |
~$385,000 |
$55,696+ |
Repeat LP (2022) |
| 936 Carneal Rd |
6/2 | 2,342 sf |
$165K+ |
$156,750 |
HUD History |
| 400 Lancelot Ln |
1/1 | 1,050 sf |
TBD |
Tax cert. only |
No Mortgage! |
| 3028 River Run Trl |
4/2.5 | 1,763 sf |
~$209K |
$252,305+ |
🚨 Underwater |
🔎 Do Your Own Due Diligence — Free Resources
📄 Fayette County Deeds
Search all land records, deeds, mortgages, liens, and lis pendens filings. Free public access.
🏛️ Fayette County PVA
Property assessments, parcel maps, ownership info, and tax records for all Fayette County properties.
🏠 Zillow — Lexington Market
Current listings, Zestimates, rental estimates, and comparable sales for Lexington properties.
⚖️ Fayette Circuit Court
Look up the underlying court cases behind each lis pendens filing for full legal context.
⚠️ Disclaimer: This report is for informational purposes only and does not constitute legal, financial, or investment advice. Data sourced from Fayette County Clerk’s public records (
fayettedeeds.com) and publicly available real estate data as of March 18, 2026. Encumbrance figures reflect recorded instruments and may not reflect current payoff balances. Always consult a licensed attorney, title company, and real estate professional before making investment decisions. Records prior to July 1989 may not appear in the online database.
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