Title RPP, Real Property

Section 1. Short title. This chapter shall be known as the "Real\nProperty Law."\n

§ 10. Capacity to hold real property. 1. A citizen of the United States is capable of holding real property within this state, and of taking the same by descent, devise or purchase. 2. Noncitizens are empowered to take, hold, transmit, and dispose of real property within this st…

§ 11. Capacity to transfer real property. A person other than a minor, a person with a developmental disability, or person of unsound mind, seized of or entitled to an estate or interest in real property, may transfer such estate or interest.

§ 119. Purchase by mortgage trustee. Any banking corporation, including corporations organized under the banking law and also national banking associations authorized to act as trustees within this state, which shall act as trustee, depository or in other representative or fiduc…

§ 120. Operation and sale by mortgage trustee. Such banking corporation, upon acquiring such property, shall hold, lease, rent, operate and manage the same for the pro rata benefit of all parties interested in said mortgage, deed of trust or indenture and may, but shall not be r…

§ 120-a. Liquidation of mortgage by trustee. Any banking corporation or individual acting as trustee in respect to any mortgage upon real property against which bonds shall have been issued to the public and which mortgage shall have been given to such trustee by a corporation o…

§ 121. Reorganization of property covered by trust mortgage. Such banking corporation, under the direction of the court in the foreclosure action may, and if directed by the court shall, purchase or cause to be purchased said real property, pursuant to a reorganization plan, and…

§ 122. Procedure of reorganization and expenses in connection therewith. The reorganization plan may be presented to the court with the complaint for foreclosure, or thereafter by the trustee or by any persons owning or representing twenty-five per centum of the principal amount…

§ 122-a. Modification of trust mortgages given in prior re-organizations. Any such banking corporation or any individual acting as trustee in respect to any mortgage, deed of trust or indenture upon real property, or any leasehold interest therein, against which bonds, certifica…

§ 123. Preserving existing rights. Nothing in this act shall be deemed to prevent any bondholder or committee of bondholders from bidding at the foreclosure sale and in case he or they should be a successful bidder, from applying upon the purchase price the bonds held by him or …

§ 124. Purpose and application of article. It is the purpose of the legislature, in enacting this article, to provide for the regulation and supervision of the appointment, creation, agreements, acts, conduct, practices and proceedings of trustees, bondholders' protective commit…

§ 125. Definitions. As used in this article, unless the context requires otherwise: 1. "Mortgage investments" shall mean and include any and all shares and interests, heretofore or hereafter acquired, in an issue of bonds, notes or other evidence of indebtedness of individuals, …

§ 126. Trust indentures. No trustee shall hereafter accept a trust under any trust indenture or mortgage within the contemplation of this article or act as trustee thereunder unless the instrument creating the trust shall contain the following provisions, among others, which con…

§ 127. Restrictions on trustees. 1. No trustee shall accept a trust or act as trustee under a trust mortgage affecting any property in which he or any of the officers or directors of the trustee shall have, directly or indirectly, any financial interest. 2. No trustee nor any of…

§ 128. Minimum bid of trustee at sale on foreclosure to be fixed by court. Notwithstanding any inconsistent provision of law, on application for judgment of foreclosure and sale in an action brought to foreclose a trust indenture, deed of trust or mortgage upon real property, ex…

§ 129. No deposit agreement shall be valid or binding which does not set forth the following provisions for the protection of the bondholders: (a) That the fees of the members of the committee, the assignee or the other person or persons to whom the deposit agreement was given, …

§ 130-a. Restrictions on committees. No sale of mortgage investments by a committee shall be valid unless the fairness of the price received at such sale shall have first been approved by the court except that where an action to foreclose a mortgage on the property is pending, t…

§ 130-b. Managing agents and management companies. 1. A person, firm, association or corporation appointed, designated or employed by a trustee entering or taking possession of mortgaged property to collect rents from, or to manage or supervise the operation and maintenance of p…

§ 130-c. Voting trustees and voting trust agreements. 1. No trustee or member of a committee or the attorney of such trustee or committee or any employee of either shall be eligible to become a voting trustee or an officer or director of a corporation to be formed or used under …

§ 130-d. Fees and allowances. In the event of a default in a trust indenture necessitating the sequestration of the rents and income of the property covered thereby and where the trustee or committee or other person or persons representing the bondholders is or are lawfully in p…

§ 130-e. Removal of trustees, committees or depositaries. A trustee, committee or any member thereof and a depositary may be removed by the court for cause shown upon the application of any person aggrieved by the act or omission to act of such trustee, committee, member or depo…

§ 130-f. Actions for accounting by minority groups; expenses thereof. In any special proceeding or action brought by or on behalf of any minority bondholder or group of minority bondholders, or any person or group of persons not holding at least fifty-one per centum of the stock…

§ 130-g. Violations and penalties. The wilful violation of any provision of this article, except section one hundred and twenty-six unless elsewhere otherwise defined, shall constitute a misdemeanor and shall be punishable, unless elsewhere otherwise prescribed by a fine of not …

§ 130-h. Construction of article. This article shall be construed liberally to effectuate its purpose. The enumeration by this article of specific powers and duties in trust indentures and other instruments shall not preclude or prevent the use, exercise or enjoyment of addition…

§ 130-i. Separability. If any of the provisions of this article or the application thereof to any person or circumstance be held invalid, such invalidity shall not affect or impair other provisions or applications to other circumstances which can be given effect without the inva…

§ 130-j. Right to appeal. Any person aggrieved by any determination hereunder shall have such right of appeal as is granted to a party to a special proceeding. All proceedings and appeals hereunder shall be entitled to such preference as is granted in respect to plans of reorgan…

§ 130-k. Exemptions from restrictions on trustees and trust indentures. The provisions of sections one hundred and twenty-six and one hundred and twenty-seven of this article shall not apply to any mortgage, deed of trust, trust indenture, or other similar instrument which has b…

§ 15. Title through noncitizen. The right, title or interest in or to\nreal property in this state now held or hereafter acquired by any person\nentitled to hold the same can not be questioned or impeached by reason\nof the noncitizen status of any person through whom such title…

§ 16. Liabilities of noncitizen holders of real property. Every\nnoncitizen holding real property in this state is subject to duties,\nassessments, taxes and burdens as if such noncitizen were a citizen of\nthe state.\n

§ 17. Heirs of patriotic Indian. The heirs of an Indian to whom real property was granted for military services rendered during the war of the Revolution may take and hold such real property by descent as if they were citizens of the state at the time of the death of their ances…

§ 18. Mines in Saint Lawrence county. The proprietors of any mines or veins of lead or copper in the county of Saint Lawrence, may demise, lease, or rent the same for a period not to exceed twenty-one years from the date of any such lease, to any foreign individual or company, a…

§ 189. Estate of curtesy abolished. The common law estate by the curtesy in the real property of a wife dying after the thirty-first day of August, nineteen hundred and thirty, and all its incidents, are hereby abolished.

§ 190. Dower. When the parties intermarried prior to the first day of September, nineteen hundred and thirty, a widow shall be endowed of the third part of all the lands whereof her husband was prior to the first day of September, nineteen hundred and thirty, seized of an estate…

§ 190-b. Lands reacquired by the husband. Lands in which the husband did not have an estate of inheritance on September first, nineteen hundred thirty, and in which the wife did not then have an inchoate right of dower, shall not be subject to dower or an inchoate right of dower…

§ 191. Dower in lands exchanged. If a husband seized of an estate of inheritance in lands, exchanges them for other lands, his widow shall not have dower of both, but she must make her election, to be endowed of the lands given, or of those taken, in exchange; and if her electio…

§ 192. Dower in lands mortgaged before marriage. Where a person seized of an estate of inheritance in lands, executes a mortgage thereof, before marriage, his widow is, nevertheless, entitled to dower of the lands mortgaged, as against every person except the mortgagee and those…

§ 193. Dower in lands mortgaged for purchase-money. Where a husband purchases lands during the marriage, and at the same time mortgages his estate in those lands to secure the payment of the purchase-money, his widow is not entitled to dower of those lands, as against the mortga…

§ 194. Surplus proceeds of sale under purchase-money mortgages. Where, in a case specified in the last section, the mortgagee, or a person claiming under him, causes the land mortgaged to be sold, after the death of the husband, either under a power of sale contained in the mort…

§ 195. Widow of mortgagee not endowed. A widow shall not be endowed of the lands conveyed to her husband by way of mortgage, unless he acquires an absolute estate therein, during the marriage.

§ 196. When dower barred by misconduct. In case of a divorce, dissolving the marriage contract for the misconduct of the wife, she shall not be endowed.

§ 196-a. When dower barred by dissolution of marriage. In case of a dissolution of the marriage because of the absence of the wife for five successive years, as provided in section seven-a of the domestic relations law, she shall not be endowed.

§ 197. When dower barred by jointure. Where an estate in real property is conveyed to a person and his intended wife, or to the intended wife alone, or to a person in trust for them or for the intended wife alone, for the purpose of creating a jointure for her, and with her asse…

§ 198. When dower barred by pecuniary provisions. Any pecuniary provision, made for the benefit of an intended wife and in lieu of dower, if assented to by her as prescribed in the last section, bars her right or claim of dower in all the lands of her husband.

§ 199. When widow to elect between jointure and dower. If, before the marriage, but without her assent, or, if after the marriage, real property is given or assured for the jointure of a wife, or a pecuniary provision is made for her, in lieu of dower, she must make her election…

§ 2. Definitions. 1. The terms "real property" and "lands" as used in\nthe first eight articles of this chapter are co-extensive in meaning\nwith lands, tenements and hereditaments.\n 2. The term "infant" or "minor" as used in this chapter means a person\nwho has not attained th…

§ 200. Election between devise and dower. If real property is devised to a woman, or a pecuniary or other provision is made for her by will in lieu of her dower, she must make her election whether she will take the property so devised, or the provisions so made, or be endowed of…

§ 201. When deemed to have elected. Where a woman is entitled to an election, as prescribed in either of the last two sections, she is deemed to have elected to take the jointure, devise or pecuniary provision, unless within six months after the death of her husband she enters u…

§ 202. When provision in lieu of dower is forfeited. Every jointure, devise and pecuniary provision in lieu of dower is forfeited by the woman for whose benefit it is made in a case in which she would forfeit her dower; and on such forfeiture, an estate so conveyed for jointure,…

§ 203. Effect of acts of husband. An act, deed or conveyance, executed or performed by the husband without the assent of his wife, evidenced by her acknowledgment thereof, in the manner required by law to pass the contingent right of dower of a married woman, or a judgment or de…

§ 204. Widow's quarantine. A widow may remain in the chief house of her husband forty days after his death, whether her dower is sooner assigned to her or not, without being liable to any rent for the same; and in the meantime she may have her reasonable sustenance out of the es…