When a Section 22 Affidavit, discussed in earlier installments of this series, materially misstates a building loan’s “net sum available” to pay contractors for cost of improvement work, that can have substantial adverse...more
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