New York Laws
Article 3-A - Definition and Enforcement of Trusts
70 - Definition of Trusts.

(a) under a building loan contract;
(b) under a building loan mortgage or a home improvement loan;
(c) under a mortgage recorded subsequent to the commencement of the
improvement and before the expiration of four months after completion of
the improvement;
(d) as consideration for a conveyance recorded subsequent to the
commencement of the improvement and before the expiration of four months
after the completion thereof;
(e) as consideration for, or advances secured by, an assignment of
rents due or to become due under an existing or future lease or tenancy
of the premises that are the subject of the improvement, or of any part
of such premises, if the assignment is executed subsequent to the
commencement of the improvement and before the expiration of four months
after the completion of the improvement or if it is executed before the
commencement of the improvement and an express promise to make an
improvement, or an express representation that an improvement will be
made, is contained in the assignment or given in the transaction in
which the assignment is made;
(f) as proceeds of any insurance payable because of the destruction of
the improvement or its removal by fire or other casualty, except that
the amount thereof required to reimburse the owner for premiums paid by
him out of funds other than trust funds shall not be deemed part of the
trust assets;
(g) under an executory contract for the sale of real property and the
improvement thereof by the construction of a building thereon.
6. The assets of the trust of which a contractor is trustee are the
funds received by him and his rights of action for payment thereof
(a) under the contract for the improvement of real property, or home
improvement or the public improvement;
(b) under an assignment of funds due or earned or to become due or
earned under the contract;
(c) as proceeds of any insurance payable because of destruction of the
improvement of real property including a home improvement or public
improvement or its removal by fire or other casualty, except that the
amount thereof required to reimburse the contractor for premiums paid by
him out of funds other than trust funds shall not be deemed part of the
trust assets.
7. The assets of the trust of which a subcontractor is trustee are the
funds received by him and his rights of action for payment thereof
(a) under the subcontract;
(b) under an assignment or order for the payment of moneys due or
earned or to become due or earned under the subcontract;
(c) as proceeds of any insurance payable because of the destruction of
the improvement of real property or public improvement or its removal by
fire or other casualty, except that the amount thereof required to
reimburse the subcontractor for premiums paid by him out of funds other
than trust funds shall not be deemed part of the trust assets.
8. For the purposes of this article, the term "home improvement
contract" shall have the meaning ascribed to it by section seven hundred
seventy of the general business law, and the term "home improvement
loan" shall mean any loan obtained for the purpose of financing a home
improvement. The term "home improvement" shall mean the repairing,
remodeling, altering, converting, or modernizing of, or adding to
residential property, including but not limited to the construction,
erection, replacement, or improvement of driveways, swimming pools,
siding, insulation, roofing and windows, terraces, patios, landscaping,
fences, porches, garages, solar energy systems, flooring, basements, and
other improvements of the residential property and all structures or
land adjacent to it.