Legal Opinion
Nanuet National Bank v. Eckerson Terrace, Inc.
New York Court of Appeals
Decided June 7, 1979PublishedCited by 30 opinions
1Opinion of the Court
OPINION OF THE COURT
Fuchsberg, J.
Resolving a dichotomy among departments of the Appellate Division on a matter of no small consequence to the construction and banking industries, we hold that under section 22 of the Lien Law a lender that knowingly files a building loan contract that materially misrepresents the net sum available to the borrower for the improvement suffers a subordination of its mortgage to subsequently arising mechanics’ liens.
Appellant Nanuet National Bank is the holder of a building loan mortgage on three parcels of real estate developed for residential use by Eckerson…
2Cases cited4 opinions
- Becker v. Huss Co.New York Court of Appeals · 1978
- P. T. McDermott, Inc. v. Lawyers Mortgage Co.New York Court of Appeals · 1922
- HNC Realty Co. v. Golan Heights Developers, Inc.New York Supreme Court · 1974
- Ulster Savings Bank v. Total Communities, Inc.Appellate Division of the Supreme Court of the State of New York · 1976
3Cited by30 opinions
- Howard Savings Bank v. Lefcon PartnershipAppellate Division of the Supreme Court of the State of New York · 1994
- Altshuler Shaham Provident Funds, Ltd. v. GML Tower, LLCNew York Court of Appeals · 2013
- Yankee Bank for Finance & Savings v. Task Associates, Inc.District Court, N.D. New York · 1990
- Lincoln First Bank v. Spaulding Bakeries Inc.New York Supreme Court · 1983
- Amsterdam Savings Bank v. Marine Midland BankAppellate Division of the Supreme Court of the State of New York · 1986
25 more not listed; retrieve them via the Exa API.