This text of New York § 208 (Release) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 208. Release.
1.The commissioner shall make his determination and\nenter an order accordingly. The commissioner may agreeably to the best\ninterest of the state and in his discretion, if he deems it just to all\npersons interested, execute in the name of the state, a release on such\nterms and conditions as the commissioner deems just, releasing to such\nperson or persons as he shall have determined entitled thereto the\ninterest of the state in such real property so sought to be released.\n 2. A conveyance so made to any such person who is a parent, child,\nsurviving husband or widow of any such owner of any interest therein\nimmediately prior to the escheat, or the heirs-at-law of any such\nsurviving husband or widow, or the alleged grantee or any person or of\nany association or b
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§ 208. Release. 1. The commissioner shall make his determination and\nenter an order accordingly. The commissioner may agreeably to the best\ninterest of the state and in his discretion, if he deems it just to all\npersons interested, execute in the name of the state, a release on such\nterms and conditions as the commissioner deems just, releasing to such\nperson or persons as he shall have determined entitled thereto the\ninterest of the state in such real property so sought to be released.\n 2. A conveyance so made to any such person who is a parent, child,\nsurviving husband or widow of any such owner of any interest therein\nimmediately prior to the escheat, or the heirs-at-law of any such\nsurviving husband or widow, or the alleged grantee or any person or of\nany association or body, whether incorporated or not, who or which would\nhave succeeded by devise or otherwise to the title of such person but\nfor a legal incapacity to take or convey the property so escheated shall\nbe without consideration, if the value, at the date of the petition, as\ndetermined by the commissioner, of all property of any such owner\nescheated to the state and not conveyed or released by the state, shall\nnot exceed one hundred thousand dollars, and of the property sought to\nbe released shall not exceed ten thousand dollars, except that any and\nall expenses incurred by the state in an action to recover the property\nescheated or in any action pertaining thereto, or otherwise relating to\nthe escheated property shall be paid by such person. Where however, the\nvalue of the property sought to be released shall exceed the sum of ten\nthousand dollars the commissioner may release the same to such person\nupon the payment of the appraised value in excess of ten thousand\ndollars and in addition thereto the expenses incurred by the state in an\naction to recover the property as aforementioned.\n 3. The release shall contain a brief recital of the determinations\nrequired to be made by the commissioner on the hearing of the petition,\nremonstrance or remonstrances, and of all the terms and conditions on\nwhich the release is made.\n