N.Y. Real Property Actions & Proceedings Law Section 968
Manner of payment of proceeds to owner of particular or future estate

Whenever the whole or a part of the proceeds of a sale represents the interest of a particular estate, and also represents one or more other interests subsequent thereto, the power to determine whether the owner of the particular estate shall receive, in satisfaction of his estate or interest, a sum in gross or shall receive the earnings, as they accrue, of a sum invested for his benefit in permanent securities at interest, rests in the discretion of the court, except that if all parties affected shall have agreed either to the payment of a sum in gross or the investment of the proceeds the court shall, by order, give effect to such agreement. The application of the owner of any such particular estate for the award of a sum in gross shall be granted unless the court finds that unreasonable hardship is likely to be caused thereby to the owner of some other interest in the affected real property. The application for the award of a sum in gross by the owner of some interest in the affected real property other than the owner of the particular estate shall be granted if the court finds that the granting of such application is equitable under the circumstances.

Source: Section 968 — Manner of payment of proceeds to owner of particular or future estate, https://www.­nysenate.­gov/legislation/laws/RPA/968 (updated Sep. 22, 2014; accessed Oct. 26, 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
Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 968’s source at nysenate​.gov

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