N.Y. Real Property Actions and Proceedings Law 1766 – Distribution of proceeds on death of infant, incompetent or conservatee
§ 1766. Distribution of proceeds on death of infant, incompetent or conservatee. If the infant should die before arriving at full age, or the incompetent person should die before the incompetency is removed, or the conservatee should die before the conservatorship is terminated not leaving any personal property, or not leaving sufficient personal property to pay funeral expenses and expenses that may be necessary or necessarily incurred, then in each case, the proceeds of disposition of real property are to be deemed personal property so far as may be necessary to pay the funeral and other necessary expenses. The proceeds are to be paid, upon order of the surrogate's court or court having jurisdiction of the estate of the deceased, to an administrator appointed by the surrogate to administer upon decedent's estate, and after paying all funeral expenses and expenses of administration and any indebtedness, the remainder, if any there be, upon the order of the surrogate, shall be paid into the hands of the trustee who held the same, to be distributed as the law directs.
Terms Used In N.Y. Real Property Actions and Proceedings Law 1766
- 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
- 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
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Trustee: A person or institution holding and administering property in trust.