'Lis Pendens' generally means "pendency of a suit in a Court". It embodies the principle that the subject matter of the suit should not be transferred to third party during the pendency of the suit. The transferee is bound by the result of the suit in a case when such property is transferred during the pendency of the suit.
This doctrine aims at the final adjudication of the dispute. Nothing new should be brought in a litigation. It helps to prevent multiplicity of suits.
The essential condition for the application of this doctrine is that the right to immovable property must be directly and specifically in question in the suit. The doctrine is mainly based upon the principles of equity, justice and good conscience. It is applicable to all cases between co-heirs. It applies to ex-parte judgements, compromise decrees etc. It applies to both voluntary transfers and involuntary transfers. The doctrine is contained in Section 52 of the Transfer of Property Act.
The suit must be pending in a court of competent jurisdiction. So if the suit is filed in a court not of competent jurisdiction, it is not a suit pending as per Section 52 of the Transfer of Property Act.