FACTS:

The seller refuses to close escrow, at which point the buyer hires an attorney to file a specific performance  lawsuit and record a lis pendens against the property.

ISSUE:

What is the effect of the lis pendens?

DISCUSSION:

The lis pendens constitutes a legal notice recorded to evidence existing litigation involving title to real property. The document therefore provides notice that anyone  acquiring an interest in the property subsequent to the date of the recordation may be bound by the outcome of the litigation.

Arizona REALTOR® Magazine – January 2013