2006 New York Code - Classification, Creation, Definition Of, And Rules Governing Estates In Property



 
                                  ARTICLE 6
 
        CLASSIFICATION, CREATION, DEFINITION OF, AND RULES GOVERNING
                             ESTATES IN PROPERTY
 
                  PART 1. ESTATES CLASSIFIED AS TO DURATION
 
  Section 6-1.1  Estates classified.
          6-1.2  Estates tail abolished; future estates limited thereon.
          6-1.3  When  estate  for  life of third person is real property;
                   when personal property.
 
             PART 2. ESTATES CLASSIFIED AS TO NUMBER OF PERSONS
 
  Section 6-2.1  Estates in  severalty,  joint  tenancy,  tenancy  by  the
                   entirety and in common.
          6-2.2  When  estate  is  in  common,  in joint tenancy or by the
                   entirety.
 
           PART 3. ESTATES CLASSIFIED AS TO TIME OF ENJOYMENT AND
                                  CREATION
 
  Section 6-3.1  Estates in possession and future estates.
          6-3.2  Kinds of future estates.
          6-3.3  Concerning the creation of certain future estates.
          6-3.4  When future estates are created.
 
                           PART 4. ESTATES DEFINED
 
  Section 6-4.1  Definition of an estate in possession.
          6-4.2  Definition of a future estate.
          6-4.3  Definition of a remainder.
          6-4.4  Definition of reversion.
          6-4.5  Definition of a possibility of reverter.
          6-4.6  Definition of right of reacquisition.
          6-4.7  Definition of a future estate indefeasibly vested.
          6-4.8  Definition of a future estate vested subject to open.
          6-4.9  Definition of a future estate vested subject to  complete
                   defeasance.
          6-4.10 Definition  of  a  future  estate  subject to a condition
                   precedent.
 
                   PART 5. RULES GOVERNING FUTURE ESTATES
 
  Section 6-5.1  Characteristics of future estates.
          6-5.2  Power of appointment not to prevent vesting.
          6-5.3  Future estates in the alternative.
          6-5.4  Implication  of  cross  remainders  between  tenants   in
                   common.
          6-5.5  Future estate valid though contingency improbable.
          6-5.6  Meaning  of  heirs,  distributees  and  issue  in certain
                   remainders.
          6-5.7  Posthumous children.
          6-5.8  Heirs or distributees of life tenant take as purchasers.
          6-5.9  Heirs or distributees of creator take as purchasers.
          6-5.10 When future estates are defeated.
          6-5.11 Non-destructibility of remainders subject to a  condition
                   precedent.
          6-5.12 Future  rents  and  profits  subject  to  rules governing
                   future estates.
 
          PART 6. DISPOSITION OF COMMUNITY PROPERTY RIGHTS AT DEATH
 
  Section 6-6.1  Application.
          6-6.2  Rebuttable presumptions.
          6-6.3  Disposition upon death.
          6-6.4  Perfection of title.
          6-6.5  Purchaser for value or lender.
          6-6.6  Effect and construction of part.
          6-6.7  Short title.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.