New York Law (NYLE) Practice Exam 2026 - Free NYLE Practice Questions and Study Guide

The determination of whether Thomas is considered an innocent purchaser for value hinges on the timing of his purchase relative to the notice of pendency. In New York, a notice of pendency serves to alert potential purchasers about ongoing litigation that may affect a property, effectively putting them on notice of any claims or interests against it.

When a purchaser acquires property after a notice of pendency has been filed, they cannot be deemed an innocent purchaser for value because they are on notice of a potential claim against the property. If Thomas bought the property before the notice of pendency expired, he could not claim the status of an innocent purchaser since there was ongoing litigation that might affect the validity of his interest in the property. Thus, the timing of his purchase in relation to the notice is critical. Since he made the purchase before the notice expired, he is not considered an innocent purchaser for value based on the principles of New York law regarding notices of pendency.

The other options imply various scenarios that do not align with the established legal principles concerning innocent purchasers. Hence, the correct response is affirmatively grounded in the fact that any purchase made while a notice of pendency is still active carries with it an inherent risk and nullifies the innocent purchaser status.