New York Real Property Actions & Proceedings Law
Effect of Disposition
A deed, mortgage, release or lease made in good faith, as prescribed in this article, upon an application in behalf of an infant, incompetent person or conservatee, has the same validity and effect as if executed by the person in whose behalf it was executed, and as if the infant were of full age or the incompetent person or conservatee were of sound mind and competent to manage his affairs. It shall be valid and effectual to vest in any purchaser an interest of an infant not in being at the time of the said sale, and any mortgage so executed shall be a valid lien and charge upon the contingent interest of an infant not in being at the time of the execution and delivery of the same. A release of an inchoate right to dower as authorized by this article shall have the same effect as if the wife had joined with the husband in a deed or conveyance of the property affected thereby and had duly acknowledged the same in the manner required by law to pass the estate of married women. The failure to conduct the proceeding strictly in accordance with the provisions of this article shall not invalidate the disposition if the interests of the infant, incompetent person or conservatee have not been prejudiced.