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Notice of Pendency In Commercial Real Estate Transactions
A notice of pendency is a powerful tool. Except in a narrow class of summary proceedings, a party may unilaterally file such a notice — without any judicial involvement — in connection with "any action" that seeks a judgment that "would affect the title to, or the possession, use or enjoyment of, real property." See, CPLR 6501.
The notice is indexed in the property's chain of title, and puts a cloud on title that remains in place unless and until the notice is cancelled by court order or stipulation, or at the request of the party who filed it. See, CPLR 6514.
Parties to real estate transactions may be tempted to conclude that a notice of pendency will be available in most instances to protect their rights if things go awry. But while the CPLR's description of actions in which a notice of pendency is permitted sounds both clear-cut and extremely broad, in practice it is neither of those things.
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