Takach v. Williams Homes, Inc.

Appellant presents this court with the following proposition of law.

“Revised Code § 1311.011 does not require a construction lender to protect the interests of a non-borrower while disbursing a borrower’s loan funds.”

Two loan contracts were made in this case. Appellant made a commitment to appellees for a purchase money mortgage plan and also a construction loan to Williams Homes. There is no dispute that appellant properly disbursed the mortgage loan funds. Similarly, there is no question that appellant improperly disbursed the construction loan funds, since it did not comply with the…