The protections that New York affords a construction lender who properly documents and files a building loan contract and its accompanying Section 22 Affidavit, each of which is discussed in earlier installments of this...more
Nothing quite sets New York apart from other states’ attempts to balance the interests of construction contractor and construction lender as does New York’s iconic building loan agreement – or, to call it by its technical...more
States struggle to strike the right balance between assuring payments to a contractor who improves real property and a lender whose financing helps make those improvements possible in the first place....more