Ticktin v. Western Savings & Loan Ass'n
In Ticktin v. Western Savings & Loan Ass'n, 8 Ariz. App. 63, 442 P.2d 886 (1968) the Court was asked to decide "whether the assignees of a realty mortgage may prevail against a party who had previously foreclosed a prior realty mortgage on the same property after having duly recorded a notice of lis pendens." Ticktin, 8 Ariz. App. at 64, 442 P.2d at 887.
In ruling that the assignees of the second mortgage could not prevail, we noted that the second mortgage had been executed and assigned after the first mortgage foreclosure action had been filed and lis pendens recorded. Id. at 64-65, 442 P.2d at 887-88.
Thus, because the lis pendens was recorded before the second mortgage came into existence and was assigned, the assignee lost whatever rights to the property he may have had by failing to intervene in the prior foreclosure action. Id.
The Court explained:
The doctrine of lis pendens does not apply to persons who acquire their interest in the subject land of the suit prior to the commencement of the action and recording of lis pendens. Rather, it has been held that the lis pendens statute is prospective in its action and is notice to those who thereafter acquire an interest in the real property after the filing of lis pendens. Id. at 65, 442 P.2d at 888.