N.Y. Real Property Actions & Proceedings Law § 961
Disposition of proceeds of sale
New York · New York Real Property Actions & Proceedings Law · Status: effective · Effective 2014-09-22
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- Citation
- N.Y. Real Property Actions & Proceedings Law § 961, Disposition of proceeds of sale, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1126973
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Full text
§ 961. Disposition of proceeds of sale. The proceeds of a sale, after
deducting the costs and expenses chargeable against them shall be
immediately awarded as directed by the final judgment, to the parties
whose rights and interests have been sold, in proportion thereto. The
sum chargeable upon any share to satisfy a lien thereon shall be paid to
the creditor, or retained, subject to the order of the court; and the
remainder except as otherwise prescribed in this article, shall be paid
by the officer making the sale, to the party owning the share or his
legal representatives or into court for his use. The proceedings to
ascertain and settle the liens upon an undivided share shall not affect
any other party to the action or delay the paying over or investing of
money to or for the benefit of any other party upon whose share or
interest in the property there does not appear to be any existing lien.