what does lis pendence do

A "Lis Pendens" or "Notice of Pendency of Action" is a filing authorized under NRS 14.010.  It does not stop a foreclosure sale; it merely notifies the Purchaser that it is buying into a lawsuit. This statute provides that a Lis Pendens can be recorded "in an action for the foreclosure of a mortgage upon real property, or affecting the title or possession of real property" either the Plaintiff or the Defendant shall record with the County Recorder. The Lis Pendens must contain (a) the names of the parties, (b) the object of the action and (c) a description of the property in that county affected thereby. The recording is constructive notice to any purchaser or encumbrancer of the property. In case of the foreclosure of the mortgage, all purchasers or encumbrancers, by unrecorded deed or other instrument in writing made before the recording of the notice, and after the date of the mortgage, shall be deemed purchasers or encumbrancers after the recording of the notice. The opposing party is entitled to a hearing to expunge the Lis Pendens, which must be set as soon as is practicable, taking precedence over all other civil matters except a motion for a preliminary injunction. NRS 14.015. The party who recorded the Lis Pendens will be required to show (a) likelihood of success on the merits or (b) fair chance of success on the merits and that the injury would be substantially serious that the hardship from transfer is greater than hardship on non-filing party. Id.