What does "lis pendens" signify in civil litigation?

The term "lis pendens" refers specifically to a legal notice that alerts interested parties that a lawsuit is currently pending, which directly affects the ownership or potential ownership of a specific piece of property. This notice serves to protect the rights of the parties involved in the litigation, especially in cases where the outcome may directly impact property rights. By filing a lis pendens, the party is essentially informing the public and any potential buyers or financiers that the property in question is subject to an ongoing legal dispute, thus putting them on notice that they may need to consider the implications of that dispute when making decisions regarding the property.

This concept is crucial in civil litigation as it helps to prevent any complications that may arise from transactions involving the property during the pendency of the action, ensuring that the rights of the parties involved are preserved until the legal matter is resolved.