Notice of Pendency
Definition - What does Notice of Pendency mean?
A notice of pendency is an action that affects the title of real property. Generally, the real property has a lien against it. The purpose of the notice of pendency is to alert any potential buyer that they should take caution before buying the piece of property.
Justipedia explains Notice of Pendency
If a person buys a piece of real estate that is subject to a prior lien, that individual is subject to the lien and cannot prevent that lien from being enforced. For example, if an individual buys a home for $200,000 from Fred and there is a lien against the home by the bank that holds for $150,000, then there is nothing that will prevent the bank from foreclosing on the home and selling it in order to get its money. The purpose of a notice of pendency is to try and prevent this from happening.