RESOLUTION TRUST CORPORATION v. LYONS


275 A.D.2d 664 (2000)

713 N.Y.S.2d 534

RESOLUTION TRUST CORPORATION, as Conservator for STANDARD FEDERAL SAVINGS ASSOCIATION, Plaintiff, v. JAMES LYONS et al., Defendants, KAREN BORCA, Respondent, and TEODORO RICHARDSON et al., Appellants.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided September 28, 2000.


Contrary to the contentions of defendants-appellants, the record does not contain evidence of an express or implied agreement between them and defendant Borca that the subject property was to be "`held, given or transferred as security'" (Teichman v Community Hosp., 87 N.Y.2d 514, 520, quoting James v Alderton Dock Yards, 256 N.Y. 298, 303).

Nor can appellants establish an equitable lien based on the theory that the...

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