N.Y. Real Property Actions and Proceedings Law 1610 – Final order authorizing acquisition or exchange of land or confirming lease; execution and binding force
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§ 1610. Final order authorizing acquisition or exchange of land or confirming lease; execution and binding force. When the final order authorizes the acquisition or exchange of land, the trustee, upon whose application the order was made, shall execute the provisions of such order. Any acquisition or exchange of land so made or any previously made lease which is confirmed, shall have the same binding force upon the interests of the beneficiaries of such trust and upon the interests of all other persons in such real property as is stated in section 1614.
Terms Used In N.Y. Real Property Actions and Proceedings Law 1610
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.