Legal Question in Real Estate Law in New York

Property Leins

What are the legal conditions that must exist in order to place a lein against a piece of property? Can verbal agreements serve as a basis. I gave an associate some money for a piece of an investment property he was buying.

He now has the property on the market but claims the money was a personal loan and he is under no obligation to share money from the property.There are numerous witnesses to the agreement and I have copies of all funds transferred to his account. His name however is the only one on the deed and the mortgage is in his name.Do I have a legal leg to stand on?


Asked on 11/17/04, 2:29 pm

1 Answer from Attorneys
Kevin Connolly Kevin J. Connolly

Re: Property Leins

Your situation fits a legal doctrine known as "equitable lien." One who supplies money for the purchase of property can, under certain circumstances, impress a lien on the property purchased. The doctrine is complicated, and I suggest you not try to go it without the assistance of counsel.

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Answered on 11/19/04, 6:25 am


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