ยง 968. Manner of payment of proceeds to owner of particular or future
estate. Whenever the whole or a part of the proceeds of a sale
represents the interest of a particular estate, and also represents one
or more other interests subsequent thereto, the power to determine
whether the owner of the particular estate shall receive, in
satisfaction of his estate or interest, a sum in gross or shall receive
the earnings, as they accrue, of a sum invested for his benefit in
permanent securities at interest, rests in the discretion of the court,
except that if all parties affected shall have agreed either to the
payment of a sum in gross or the investment of the proceeds the court
shall, by order, give effect to such agreement. The application of the
owner of any such particular estate for the award of a sum in gross
shall be granted unless the court finds that unreasonable hardship is
likely to be caused thereby to the owner of some other interest in the
affected real property. The application for the award of a sum in gross
by the owner of some interest in the affected real property other than
the owner of the particular estate shall be granted if the court finds
that the granting of such application is equitable under the
circumstances.
Structure New York Laws
RPA - Real Property Actions and Proceedings
Article 9 - Action for Partition
907 - Trial of Title or Interest.
913 - Inquiry as to Creditors.
916 - Interlocutory Judgment Directing Partial Partition.
917 - Interlocutory Judgment Directing Partition in Common.
918 - Interlocutory Judgment Directing Sale or Exception of Lien or Dower Interest.
919 - Interlocutory Judgment Directing Credit on Sale.
922 - Meeting of Commissioners; Report of Actual Partition; Confirming or Setting Aside Report.
923 - Security for Credit on Sale.
925 - Report of Sale; Confirmation.
927 - Contents of Judgment After Actual Partition.
928 - Effect of Judgment After Actual Partition.
929 - Lien of Creditor Upon Share Partitioned.
931 - Contents of Judgment After Sale.
933 - Effect of Judgment After Sale.
941 - Judgment as to Parties Having Interest in Entire Property.
943 - Judgment Directing Compensation to Equalize Partition.
945 - Judgment Adjusting Rents and Profits.
947 - Judgment Affecting State Tax Claim.
961 - Disposition of Proceeds of Sale.
962 - Payment of Proceeds Into Court Where There Are Liens.
963 - Payment of Proceeds Out of Court Where There Are Liens.
964 - Payment of Proceeds Into Court in Cases Involving Decedent's Property.
965 - Payment of Proceeds Out of Court in Cases Involving Decedent's Property.
966 - Payment of Proceeds Directly to Parties in Cases Involving Decedent's Property.
967 - Payment of Proceeds to Owner of Particular or Future Estate.
968 - Manner of Payment of Proceeds to Owner of Particular or Future Estate.
969 - Shares of Infant, Incompetent or Conservatee.
970 - Shares of Unknown or Absent Owner.
973 - Report of Disposition of Proceeds.
991 - Proceeding for Share of Unknown Heirs; Presumption of Death; Service.