Can a business lender in NY not wire the funds to the borrowing business after receiving the notarized closing documents?
I signed, notarized and returned the note to the lender with funds to be wired to my account within 72hrs. It's been over a week and no funds yet. In NY does the lender have an obligation to fund after receiving the signed note (essentially yhe xlosing document) from the borrower or can they just arbitrarily chose not to fund? This is a business loan.
- ScottLv 72 months ago
People can do whatever they want. Whether it's right or wrong, legal or illegal - may depend on laws or regulations.
- R PLv 72 months ago
You have already asked this same question twice. FYI, it is a violation of the TOS to post the same question more than once.
- realtor.sailorLv 72 months ago
Previously asked and answered!
- A.J.Lv 72 months ago
Closing documents are signed contracts. When both parties have signed, the contract is in effect. Have your lawyer review the contract.
Consumer real estate law does not apply. This is strictly contract law.