Which legal document formally indicates a potential claim on property due to litigation?

A Lis Pendens is a legal document that serves as a formal notice indicating that there is an ongoing lawsuit that may affect the title or ownership of a property. When this document is filed, it alerts potential buyers, lenders, or other interested parties that the property is under dispute and that there may be claims made against it due to the litigation. This is important because it warns prospective buyers that any transaction involving the property could be impacted by the outcome of the legal proceedings.

In contrast, a Notice of Default is typically issued in the context of foreclosure and indicates that a borrower has failed to meet the terms of a loan. A Quitclaim Deed is a legal instrument used to transfer interest in a property without making any promises about the extent of that interest, typically without warranties. An Affidavit of Title is a sworn statement confirming the ownership of and any encumbrances on the property, but it does not relate directly to pending litigation. Thus, the Lis Pendens stands out as the correct answer due to its specific role in informing stakeholders about active legal claims against a property.