2012 New York Consolidated Laws
CVP - Civil Practice Law & Rules
Article 65 - (6501 - 6516) NOTICE OF PENDENCY
6501 - Notice of pendency; constructive notice.

NY CPLR § 6501 (2012) What's This?
    §  6501. Notice of pendency; constructive notice. A notice of pendency
  may be filed in any action in a court of the  state  or  of  the  United
  States  in which the judgment demanded would affect the title to, or the
  possession, use or enjoyment of, real  property,  except  in  a  summary
  proceeding  brought  to  recover  the possession of real property.   The
  pendency of such an action is constructive  notice,  from  the  time  of
  filing of the notice only, to a purchaser from, or incumbrancer against,
  any  defendant  named  in  a notice of pendency indexed in a block index
  against a block in which property affected is situated or any  defendant
  against  whose  name  a  notice  of  pendency is indexed. A person whose
  conveyance or incumbrance is recorded after the filing of the notice  is
  bound  by  all  proceedings taken in the action after such filing to the
  same extent as a party.

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