§ 1920 — Disposition of surplus in action to enforce mortgage or other lien 1

New York § 1920

• Jurisdiction: New York
• Law SCP: Surrogate's Court Procedure
• Art. 19: Disposition of Real Property

Text

§ 1920. Disposition of surplus in action to enforce mortgage or other\n lien\n 1. Where real property liable to be disposed of as prescribed in this\nact is sold in an action or special proceeding, or otherwise, to enforce\na mortgage or other lien thereon which accrued during the decedent's\nlifetime the surplus money must be paid into the surrogate's court\nhaving jurisdiction to issue letters upon the estate of the decedent, in\nthe following cases:\n (a) Where 18 months have not elapsed since the date when letters were\nissued to the original fiduciary.\n (b) Where a proceeding for the disposition of the real property of\nthe decedent or for a judicial settlement of the accounts of the\nfiduciary has been commenced within 18 months from the date of the\nissuance of such letters and is still pending.\n (c) Where no such letters have been issued and 2 years have not\nelapsed since the death of the decedent.\n 2. Money paid into the surrogate's court as herein provided, pursuant\nto any direction of another court may be paid out to the fiduciary of\nthe decedent, as directed by an order of the surrogate's court, to be\naccounted for by him upon the judicial settlement of his accounts or in\na special proceeding brought for that purpose in the surrogate's court\nan order may be entered directing distribution to the persons entitled\nthereto if 18 months have elapsed since letters were issued to the\noriginal fiduciary upon the estate of the decedent or if no such letters\nhave been issued 2 years have elapsed since the death of the decedent.\n