New York Laws
Part 10 - Provisions Affecting Powers Other Than Powers of Appointment
10-10.5 - Power to Sell in a Mortgage

Where a power to sell real property is given to a mortgagee or to the
transferee in any other conveyance intended to secure the payment of
money, the power is deemed a part of the security, and passes to and may
be exercised by any person, who by assignment or otherwise, becomes
entitled to the money so secured to be paid.

Structure New York Laws