property renovation

A person made an investment in a property, but the check was not sent to the individual, but it was used as a down payment. The individual that made the investment wants their funds back before the property is renovated. The funds have been sent to the contractor for renovation. How difficult is it for an individual to put a lien on a property they have invested in? And, what exactly does that lien mean as far as renovations and selling of the property are concerned? What are the the statutes of limitations in NYS?

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