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Lis pendens not to affect Purchasers, &c. unless registered within Five Years before Execution of Conveyance, &c.
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V. And be it enacted, That no Lis pendens shall bind or affect a Purchaser or Mortgagee, without express Notice thereof, unless and until a like Memorandum or Minute as is required for a Registry thereof under the said Act of the Eighth Year of Her Majesty be left with the Officer appointed under that Act, within Five Years before the Execution of the Conveyance, Settlement, Mortgage, Lease, or other Deed or Instrument vesting or transferring the legal or equitable Right to the Estate or Interest in or to such Purchaser or Mortgagee for valuable Consideration, save where such Lis pendens has been registered under the said Act of the Eighth Year of Her Majesty before the passing of this Act, and such Conveyance, Settlement, Mortgage, Lease, or other Deed or Instrument is executed within Five Years after the passing of this Act.
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