2006 New York Code - Limited And Restrictive Letters

 
  § 702. Limited and restrictive letters
    Letters  may be granted limiting and restricting the powers and rights
  of the holder thereof:
    1. To the enforcement or prosecution of a cause of action in favor  of
  the  decedent  or  his  fiduciary under general or special provisions of
  law, to the defense of any claim or cause of action against  a  decedent
  or  his  fiduciary, and restraining the fiduciary from compromise of the
  action or the enforcement of a  judgment  recovered  therein  until  the
  further  order  of  the court and the filing of satisfactory security if
  required.
    2. Where it is impracticable  to  give  a  bond  in  the  full  amount
  required  by  statute,  to receiving and administering only the property
  which the court may specify,  and  restraining  him  from  receiving  or
  administering other property until further order of the court.
    3.  To  the  adjustment,  settlement, satisfaction or discharge of any
  claim in favor of or against the decedent or his fiduciary.
    4. To the performance of any act required in order  to  discharge  the
  estate of a decedent from liability.
    5.  To an account in behalf of the decedent for the performance by him
  of any trust or other responsibility.
    6. To the completion of  any  transfer  made  by  a  decedent  or  his
  fiduciary  and  to  the  execution  of  any  instruments  confirming any
  transfer so made.
    7. To the appearance in and conduct of an action in which  a  decedent
  or his fiduciary is a necessary or proper party.
    8.  In  the  discretion  of  the  court,  to represent the estate in a
  transaction in which the acting fiduciary could not or should not act in
  his or her fiduciary capacity because of conflict of interest.
    9. To commence and maintain  any  action  or  proceeding  against  the
  fiduciary,  in  his  or  her individual capacity, or against anyone else
  against whom the fiduciary fails or refuses to bring such a proceeding.
    10. To any other purpose or act deemed by the court to be  appropriate
  or  necessary  in  respect  of the affairs of the estate, the protection
  thereof or to the proper administration thereof.
    In any case where limited and  restrictive  letters  are  granted  the
  court  may  reduce the amount of security otherwise required or dispense
  therewith according to the circumstances.
    Any letters may contain appropriate recitals  restraining  the  holder
  from  doing  any  such  acts  or  exercising  any  such powers as may be
  specified therein until the further order of  the  court  and  upon  the
  filing, if ordered, of satisfactory security. The issuance of limited or
  restrictive  letters  under  this  section  may  be  in  addition to the
  issuance of general letters or other, limited or restrictive letters.