New York Laws
Article 9 - Payment of Debts of Incompetent Person or Conservatee
251 - Authority for Committee or Conservator to Compromise Claims.

§ 251. Authority for committee or conservator to compromise claims. A
court exercising jurisdiction over the property of a person with a
mental illness, or conservatee may, upon the application of the
committee of the property of such incompetent person or the conservator
of the conservatee, and for good and sufficient cause shown, and upon
such terms as it may direct, authorize the committee or conservator to
sell, compromise or compound any claim or debt belonging to the estate
of the incompetent person or conservatee. But such authority shall not
prevent any party interested in the trust estate, from showing upon the
final accounting of such committee or conservator that such debt or
claim was fraudulently or negligently sold, compounded or compromised.
The sale of any debt or claim heretofore made in good faith by any such
committee or conservator, shall be valid, subject, however, to the
approval of the court, and the committee or conservator shall be charged
with and liable for, as a part of the trust fund, any sum which might or
ought to have been collected by him.

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