2014 New York Laws
EPT - Estates, Powers & Trusts
Article 6 - CLASSIFICATION, CREATION, DEFINITION OF, AND RULES GOVERNING ESTATES IN PROPERTY
Part 6 - (6-6.1 - 6-6.7) DISPOSITION OF COMMUNITY PROPERTY RIGHTS AT DEATH
6-6.5 - Purchaser for value or lender
6-6.5 Purchaser for value or lender(a) If a surviving spouse has apparent title to property to which this part applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the personal representative or a testamentary beneficiary or distributee of the decedent.
(b) If a personal representative or a testamentary beneficiary or distributee of the decedent has apparent title to property to which this part applies, a purchaser for value or a lender taking a security interest in the property takes his interest in the property free of any rights of the surviving spouse.
(c) A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.
(d) The proceeds of a sale or creation of a security interest shall be treated in the same manner as the property transferred to the purchaser for value or a lender.
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.
