Realty Corp. v. O & Y Equity Corp. Et Al‪.‬

[64 N.Y.2d 313 Page 315] Opinion OF THE COURT A notice of pendency, commonly known as a lis pendens, can be a potent shield to protect litigants claiming an interest in real property. The powerful impact that this device has on the alienability of property, when conjoined with the facility with which it may be obtained, calls for its narrow application to only those lawsuits directly affecting title to, or the possession, use or [64 N.Y.2d 313 Page 316]