N.Y. Estates, Powers and Trusts Law 6-1.3 – When estate for life of third person is real property; when
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§ 6-1.3 When estate for life of third person is real property; when
Terms Used In N.Y. Estates, Powers and Trusts Law 6-1.3
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
personal property
A disposition of real property for the life of a third person, whether limited to heirs or otherwise, is real property only during the life of the grantee or devisee; after his death it is personal property.