§ 2217 — When money or property may be retained 1

New York § 2217

• Jurisdiction: New York
• Law SCP: Surrogate's Court Procedure
• Art. 22: Accounting

Text

§ 2217. When money or property may be retained\n 1. In any of the following cases the decree must direct that a sum\nsufficient to satisfy a debt or claim or the proportion to which it is\nentitled, together with the probable amount of the interest and costs,\nor that any personal property the right to which is in controversy, be\nretained in the hands of the accounting party or be deposited in a bank\nor trust company, subject to the order of the court, or be paid into the\ncourt for the purpose of being applied to the payment of the debt or\nclaim or to the satisfaction of any judgment recovered and that so much\nthereof as is not needed for such purposes be afterwards distributed:\n (a) Where an admitted debt of the decedent, ascertainable in amount,\nis not yet due and the creditor will not presently accept payment with a\nrebate of interest, or\n (b) Where a claim for a debt, ascertainable in amount, but not yet due\nhas been disputed or rejected, or\n (c) Where an action is pending between the fiduciary and a person\nclaiming to be a creditor of the decedent, or\n (d) Where on the judicial settlement of the account of a trustee a\ncontroversy respecting the right of a party to share in the estate or\nother personal property held by the trustee has not been determined.\n 2. Upon the determination of the debt or claim or the right to the\npersonal property any party may present a petition to the court praying\nfor directions as to the disposition of the moneys or property retained.\n