There is a newer version
of
the New York Laws
2019 New York Laws
EPT - Estates, Powers and Trusts
Article 12 - Actions by Creditors and Other Persons Against Distributees and Testamentary Beneficiaries
Part 2 - Rules Governing Action to Enforce Liability
12-2.5 - Title of Bona Fide Purchaser From Distributee or Testamentary Beneficiary Protected
Universal Citation: NY Est Pow & Trusts L § 12-2.5 (2019)
§ 12-2.5 Title of bona fide purchaser from distributee or testamentarybeneficiary protected
The entry and filing of a judgment recovered against a distributee or testamentary beneficiary in an action brought under this article does not affect the rights of a prior purchaser, in good faith and for valuable consideration, from such distributee or beneficiary of any property of the decedent which would otherwise be subject to such judgment, unless, in the case of real property, a notice of pendency had been filed prior to such purchase. When the subsequent purchaser is protected, the judgment is enforceable against the judgment debtor to the extent of the net proceeds received by him upon the disposition of the property.
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