Dime Savings Bank of New York, FSB v. Sandy Springs Associates, Inc.

Fletcher, Justice.

Dime Savings Bank of New York, FSB and Chicago Title Insurance Company (“Dime”) appeal from the trial court’s decision that gave a notice of lis pendens priority over Dime’s unrecorded security deed. We reverse.

In 1986, Edgar A. Neely III and George Pearson entered into a sales contract and escrow agreement for the sale of Neely’s house (the “property”) in Fayette County to Pearson. Under the escrow agreement, as amended, a third party escrow agent would hold the warranty deed to the property and not deliver it to Pearson until he satisfied certain conditions, including…