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Tag Archives: Trust Funds

Appellate Division Rules Owners are Beneficiaries of Trust Funds

Posted on July 24, 2013 by admin

The Appellate Division, Second Department, recently ruled, for the first time, that owners of construction projects are beneficiaries of the trust created under Article 3A of the Lien Law and, therefore, have standing to bring claims against contractors, and their … Continue reading →

Posted in Uncategorized | Tagged Article 3A, Beneficiaries, Trust Diversions, Trust Funds

New York’s Lien Law Section 76

Posted on May 9, 2013 by VTP

What is New York’s Lien Law Section 76? Pursuant to Lien Law Section 76, a beneficiary of a trust may, after thirty days of an unpaid trust claim, serve a demand requiring the trustee to verify the entries on the … Continue reading →

Posted in Lien Law Section 76, Trust Diversion, Trust Funds | Tagged Lien Law Section 76, Trust Diversion, Trust Funds

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