N.Y. Real Property Actions & Proceedings Law Section 961
Disposition of proceeds of sale


The proceeds of a sale, after deducting the costs and expenses chargeable against them shall be immediately awarded as directed by the final judgment, to the parties whose rights and interests have been sold, in proportion thereto. The sum chargeable upon any share to satisfy a lien thereon shall be paid to the creditor, or retained, subject to the order of the court; and the remainder except as otherwise prescribed in this article, shall be paid by the officer making the sale, to the party owning the share or his legal representatives or into court for his use. The proceedings to ascertain and settle the liens upon an undivided share shall not affect any other party to the action or delay the paying over or investing of money to or for the benefit of any other party upon whose share or interest in the property there does not appear to be any existing lien.

Source: Section 961 — Disposition of proceeds of sale, https://www.­nysenate.­gov/legislation/laws/RPA/961 (updated Sep. 22, 2014; accessed Jul. 13, 2024).

901
By whom maintainable
903
Necessary defendants
904
Permissible defendants
905
Complaint
907
Trial of title or interest
911
Ascertainment of rights of parties before interlocutory judgment on default or admission or where party is an infant, absentee or unknown...
913
Inquiry as to creditors
915
Interlocutory judgment
916
Interlocutory judgment directing partial partition
917
Interlocutory judgment directing partition in common
918
Interlocutory judgment directing sale or exception of lien or dower interest
919
Interlocutory judgment directing credit on sale
921
Actual partition
922
Meeting of commissioners
923
Security for credit on sale
925
Report of sale
927
Contents of judgment after actual partition
928
Effect of judgment after actual partition
929
Lien of creditor upon share partitioned
931
Contents of judgment after sale
933
Effect of judgment after sale
941
Judgment as to parties having interest in entire property
943
Judgment directing compensation to equalize partition
945
Judgment adjusting rents and profits
947
Judgment affecting state tax claim
951
Recording of judgment
961
Disposition of proceeds of sale
962
Payment of proceeds into court where there are liens
963
Payment of proceeds out of court where there are liens
964
Payment of proceeds into court in cases involving decedent’s property
965
Payment of proceeds out of court in cases involving decedent’s property
966
Payment of proceeds directly to parties in cases involving decedent’s property
967
Payment of proceeds to owner of particular or future estate
968
Manner of payment of proceeds to owner of particular or future estate
969
Shares of infant, incompetent or conservatee
970
Shares of unknown or absent owner
971
Security for refund
973
Report of disposition of proceeds
981
Costs and expenses
991
Proceeding for share of unknown heirs
992
Judgment in proceeding for share of unknown heirs
993
Uniform partition of heirs property act

Accessed:
Jul. 13, 2024

Last modified:
Sep. 22, 2014

§ 961’s source at nysenate​.gov

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