The power of a tenant for life to make leases is not assignable as a
separate interest, but is annexed to his estate and passes by a
disposition of such estate unless expressly excepted. If so excepted,
it is extinguished. Such a power may be released by the tenant to a
person entitled to a future estate in the property, and shall thereupon
be extinguished.
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