N.Y. Estates, Powers & Trusts Law Section 6-6.5
Purchaser for value or lender

§ 6-6.5 Purchaser for value or lender (a) If a surviving spouse has apparent title to property to which this part applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the personal representative or a testamentary beneficiary or distributee of the decedent.

(b)

If a personal representative or a testamentary beneficiary or distributee of the decedent has apparent title to property to which this part applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the surviving spouse.

(c)

A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.

(d)

The proceeds of a sale or creation of a security interest shall be treated in the same manner as the property transferred to the purchaser for value or a lender.

Source: Section 6-6.5 — Purchaser for value or lender, https://www.­nysenate.­gov/legislation/laws/EPT/6-6.­5 (updated Sep. 22, 2014; accessed Apr. 27, 2024).

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Accessed:
Apr. 27, 2024

Last modified:
Sep. 22, 2014

§ 6-6.5’s source at nysenate​.gov

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