N.Y. Real Property Actions and Proceedings Law 1711 – Grounds
§ 1711. Grounds. In any of the following cases, a special proceeding may be maintained to dispose of the real property or an interest in real property of an infant, incompetent person or conservatee.
Terms Used In N.Y. Real Property Actions and Proceedings Law 1711
- conservatee: means a person who has suffered substantial impairment of his ability to care for his property or has become unable to provide for himself or others dependent upon him for support for whom a conservator of his property has been appointed, pursuant to § 77. See N.Y. Real Property Actions and Proceedings Law 1701
- Contract: A legal written agreement that becomes binding when signed.
- dispose of: means to sell, convey, exchange, mortgage, release or lease. See N.Y. Real Property Actions and Proceedings Law 1701
- incompetent person: means a person incompetent to manage his affairs of whose property a committee has been appointed pursuant to § 78. See N.Y. Real Property Actions and Proceedings Law 1701
- interest in real property: includes any term, estate or other interest in real property, vested or contingent, of an infant in being, an incompetent person, or a conservatee including an inchoate right of dower and a possibility of reverter, and also the contingent interest of an infant not in being. See N.Y. Real Property Actions and Proceedings Law 1701
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
- possibility of reverter: means the possibility that upon breach of a condition or termination of an estate by limitation the right of re-entry will vest in, or real property will revert to, an infant, incompetent person or conservatee or his heirs solely or in common with others. See N.Y. Real Property Actions and Proceedings Law 1701
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
1. Where his personal property, together with the income of the real property are insufficient for the payment of his debts or for the maintenance and necessary education of himself and his family.
2. Where his interests require or will be substantially promoted by disposition, because the real property or interest in real property is exposed to waste or dilapidation, or is wholly or substantially unproductive, or because funds are needed to preserve or to improve the same, or because of other peculiar reasons or circumstances.
3. Where he is seized or possessed of the real property, or interest in real property, by way of mortgage, or only in trust for another.
4. Where a valid contract for the sale or conveyance of the real property or interest in real property has been made, but a conveyance thereof cannot be made because the person in whom the title is vested is an infant, an incompetent, or a conservatee.
5. Where his interest will be substantially promoted by releasing or joining with others in releasing for a valuable consideration the possibility of reverter.
6. Where his interest will be substantially promoted by the exchange of a portion of his real property for lands adjacent to such real property if such exchange would tend to improve the boundary line of such real property.