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\nStates is capable of holding real property within this state, and of\ntaking the same by descent, devise or purchase.\n 2. Noncitizens are empowered to take, hold, transmit, and dispose of\nreal property within th…

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

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

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

§ 120-a. Liquidation of mortgage by trustee. Any banking corporation\nor individual acting as trustee in respect to any mortgage upon real\nproperty against which bonds shall have been issued to the public and\nwhich mortgage shall have been given to such trustee by a corporatio…

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

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

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

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

§ 124. Purpose and application of article. It is the purpose of the\nlegislature, in enacting this article, to provide for the regulation and\nsupervision of the appointment, creation, agreements, acts, conduct,\npractices and proceedings of trustees, bondholders' protective\nco…

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

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

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

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

§ 129. No deposit agreement shall be valid or binding which does not\nset forth the following provisions for the protection of the\nbondholders:\n (a) That the fees of the members of the committee, the assignee or the\nother person or persons to whom the deposit agreement was gi…

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

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

§ 130-c. Voting trustees and voting trust agreements. 1. No trustee or\nmember of a committee or the attorney of such trustee or committee or\nany employee of either shall be eligible to become a voting trustee or\nan officer or director of a corporation to be formed or used und…

§ 130-d. Fees and allowances. In the event of a default in a trust\nindenture necessitating the sequestration of the rents and income of the\nproperty covered thereby and where the trustee or committee or other\nperson or persons representing the bondholders is or are lawfully i…

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

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

§ 130-g. Violations and penalties. The wilful violation of any\nprovision of this article, except section one hundred and twenty-six\nunless elsewhere otherwise defined, shall constitute a misdemeanor and\nshall be punishable, unless elsewhere otherwise prescribed by a fine of\n…

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

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

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

§ 130-k. Exemptions from restrictions on trustees and trust\nindentures. The provisions of sections one hundred and twenty-six and\none hundred and twenty-seven of this article shall not apply to any\nmortgage, deed of trust, trust indenture, or other similar instrument\nwhich h…

§ 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\nproperty was granted for military services rendered during the war of\nthe Revolution may take and hold such real property by descent as if\nthey were citizens of the state at the time of the death of their\na…

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

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

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

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

§ 191. Dower in lands exchanged. If a husband seized of an estate of\ninheritance in lands, exchanges them for other lands, his widow shall\nnot have dower of both, but she must make her election, to be endowed of\nthe lands given, or of those taken, in exchange; and if her elec…

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

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

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

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

§ 196. When dower barred by misconduct. In case of a divorce,\ndissolving the marriage contract for the misconduct of the wife, she\nshall not be endowed.\n

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

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

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

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

§ 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\nto a woman, or a pecuniary or other provision is made for her by will in\nlieu of her dower, she must make her election whether she will take the\nproperty so devised, or the provisions so made, or be endowed…

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

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

§ 203. Effect of acts of husband. An act, deed or conveyance, executed\nor performed by the husband without the assent of his wife, evidenced by\nher acknowledgment thereof, in the manner required by law to pass the\ncontingent right of dower of a married woman, or a judgment or…

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