A power may be conferred upon a tenant for life to make leases of real
property for a term of not more than twenty-one years to commence in
possession during his lifetime. If the power authorizes, or the life
tenant makes, a lease for a term in excess of twenty-one years, such
power or lease is valid for twenty-one years, but is void as to the
excess.
Structure New York Laws
EPT - Estates, Powers and Trusts
Part 10 - Provisions Affecting Powers Other Than Powers of Appointment
10-10.1 - Power to Distribute Principal or Allocate Income; Restriction on Exercise.
10-10.2 - Power to Lease in Tenant for Life; Scope
10-10.3 - Power to Lease in Tenant for Life; Transfer and Extinguishment
10-10.4 - Power to Lease in Tenant for Life; Effect of Mortgage
10-10.5 - Power to Sell in a Mortgage
10-10.6 - Effect of Reserved Unqualified Power to Revoke
10-10.7 - Exercise of Powers by Multiple Fiduciaries; Joint and Several Powers
10-10.8 - Irrevocability of Powers Other Than Powers of Appointment