§ 268 — Disaffirmance of fraudulent act by executor and others

New York § 268

• Jurisdiction: New York
• Law RPP: Real Property
• Art. 8: Conveyances and Mortgages

Text

§ 268. Disaffirmance of fraudulent act by executor and others. An\nexecutor, administrator, receiver, assignee or other trustee, may, for\nthe benefit of creditors, or of others interested in real property held\nin trust, disaffirm, treat as void and resist any act done or transfer\nor agreement made in fraud of the rights of any creditor, including\nhimself, interested in such estate or property; and a person who\nfraudulently receives, takes, or in any manner interferes with the real\nproperty of a deceased person, or an insolvent corporation, association,\npartnership, or individual, is liable to such executor, administrator,\nreceiver or other trustee for the same, or the value thereof, and for\nall damages caused by such act to the trust estate. A creditor of a\ndeceased insolvent debtor, having a claim or demand exceeding one\nhundred dollars against such deceased, may, for the benefit of creditors\nor others interested in the real property of such deceased, disaffirm,\ntreat as void, and resist any act done or conveyance, transfer or\nagreement made by such deceased in fraud of the rights of any creditor,\nincluding himself, and may maintain an action to set aside such act,\nconveyance, transfer or agreement, without having first obtained a\njudgment on such claim or demand; but the same, if disputed, may be\nestablished on the trial. The judgment in such action may provide for\nthe sale of the premises or property involved, when a conveyance or\ntransfer thereof is set aside, and that the proceeds thereof be brought\ninto court or paid into the proper surrogate's court to be administered\naccording to law.\n