2006 New York Code - Power To Sell In A Mortgage

 
  § 10-10.5 Power to sell in a mortgage
    Where  a power to sell real property is given to a mortgagee or to the
  transferee in any other conveyance intended to  secure  the  payment  of
  money, the power is deemed a part of the security, and passes to and may
  be  exercised  by  any  person,  who by assignment or otherwise, becomes
  entitled to the money so secured to be paid.