a lawsuit, innocent buyers might discover the existence of a lawsuit too late. The harsh effect of this rule, and its effect on innocent purchasers, led many jurisdictions to enact statutes requiring a written notice, usually recorded in the land records where the real estate is located, for the notice provisions of the rule to be effective. Typically, a separate recorded instrument is required by statute if the lawsuit in question affects title to real property. If the statutory requirements are met, the world is put on "constructive notice" of the existence of the suit, and any person acquiring an interest later does so subject to the outcome of the suit. Effect is taken as constructive notice of the pending lawsuit, and it serves to place a cloud on the title of the property in question until the suit is resolved and the notice released or the is expunged. Careful buyers will be unwilling to purchase land subject to a or will only purchase the land at a discount, prudent lenders will not lend money against the security of the land, and title insurance companies will not insure the title to such land: title is taken subject to the outcome of the lawsuit. Because so much real property is purchased with borrowed money, this usually keeps the owner from selling the property. It also may keep the owner from borrowing money secured by the property (such as to pay the costs of defending the suit). It is important to note that the presence of a does not prevent or necessarily invalidate a transfer of the property, although it makes such a transfer subject to the outcome of the litigation. Thus, the owner is not prevented from selling the land for (non-borrowed) cash, pledging it as security for a speculative loan, or giving it away, all subject to the outcome of the lawsuit. However, once the is recorded, the recipient (a "purchaser" or "grantee ") would be deemed to have notice of the litigation and might lose their title to the property if the plaintiff's suit prevails. While it is generally thought of in connection with real property (land, buildings, and the like), the doctrine of also applies to personal property. Frequently, statutes only apply to real property, so the common-law doctrine probably still applies to personal property. See also References Latin legal terminology Real property law