What does a lis pendens indicate regarding a property?

A lis pendens is a formal notice indicating that there is a legal action pending regarding a specific property. This notice serves as a warning to potential buyers or lenders that the property may be subject to a court decision, which could affect ownership or title. When a lis pendens is filed, it signifies that a lawsuit has been initiated that directly involves the property in question, and the outcome of that lawsuit may have implications for any interested parties. This notice stays on the property records until the legal matter is resolved, making it essential for anyone considering a transaction involving that property to be aware of the pending legal issues.