2014 New York Laws
RPA - Real Property Actions & Proceedings
Article 8 - (801 - 881) WASTE AND OTHER ACTIONS AND RIGHTS OF ACTION FOR INJURY TO REAL PROPERTY
833 - Recovery of fee damages by the owner of a possessory estate for life or for years.

 833. Recovery of fee damages by the owner of a possessory estate for
  life  or  for  years.  When  the  ownership  of  land  is divided into a
  possessory estate  for  life  or  for  years  and  one  or  more  future
  interests,  and a person having none of these interests causes damage to
  such land, the damages recoverable  by  the  owner  of  such  possessory
  interest  from the wrongdoing third person may include damages caused to
  interests in the affected land other than those owned by parties to  the
  action  or  proceeding  when, but only when, all living persons who have
  either a possessory or a  future  interest  in  the  affected  land  are
  parties  thereto. The court in which any such recovery of damages occurs
  shall make such direction for the distribution of the damages  recovered
  among  the  persons  who are parties to the action or proceeding and for
  the protection of the interests of persons who are not parties  thereto,
  as justice may require.
A  tenant  for  life  or  for years in the land damaged is entitled to
  receive from the recovery, in satisfaction of the damage to  his  estate
  or interest, either a sum in gross or the earnings of a sum invested for
  his  benefit.  The  determination  as  to  whether a sum in gross or the
  earnings of a sum invested  shall  be  awarded  to  the  owner  of  such
  particular  estate  shall  be governed by the provisions with respect to
  the proceeds of a sale in partition.