N.Y. RPA Law § 1221 — New York Code / Act RPA / Article 12 / Section 1221
Action to sell preemptive rights against the city of New York
Status: in_force

§ 1221. Action to sell preemptive rights against the city of New York.\n1. In all cases where several persons are the owners, or claim to be the\nowners of any real estate or chattels real lying within the bounds of\nthe city of New York, having different estates, or estates in common\ntherein, in possession, remainder, or reversion, and which such persons\nshall, by virtue of such ownership, or claim to such ownership, be\nentitled, or claim to be entitled, by law to a preemptive right to have,\ntake, or demand the grant or lease of any other land, or easement in\nland, from such city, the supreme court shall have power, and such court\nis hereby vested with full power and authority, on the application of\neither of such owners, or of such city, to decree an absolute sale and\nconveyance of such right of preemption, and to make such disposition of\nthe net moneys arising from such sale, after the payment of the costs\nand expenses of the proceedings, as shall be just and proper, according\nto the rights and interests of such several owners.\n  2. Whenever any owner shall reside in the city of New York, notice of\nsuch intended application shall be served personally on such owner, or\nby leaving the same at his dwelling-house with some person of suitable\nage and discretion at least twenty days before such application is made;\nand in all cases where such owner shall reside out of such city and\nwithin any of the United States, and such place of residence be known to\nthe applicant, such notice shall be served by mail, addressed to such\nowner at his place of residence, at least three months before such\napplication is made. Proof of such service by affidavit shall be made to\nthe court before any order of sale shall be made. Any of the parties to\nsuch suit may become the purchaser on such sale.\n  3. In all cases where any owner shall be an infant, a guardian shall\nbe appointed for such infant, who shall give the like security, and\npossess the like powers, and discharge the like duties as in cases for\nthe partition of lands.\n  4. Such sale shall be made and conducted on like notice by the like\nofficer, and in the same manner and form as sales of real estate on the\nforeclosure of a mortgage by virtue of a decree or order of such court,\nand a deed of conveyance for such right of preemption shall in like\nmanner be executed and delivered to the purchaser, which deed shall vest\nin the purchaser absolutely all the claim, right, title, and interest of\nthe owner of such right of preemption, and every of them, of, in or to\nsuch right of preemption thus sold and conveyed; provided always, in\nevery case the applicant shall give six weeks' previous notice of such\nintended application if the owners entitled by law to such preemption\nright are residents, and six months' previous notice of such intended\napplication if the owners entitled by law to such preemption right are\nnon-residents of the state, by publication for three months\nsuccessively, twice in each week, in two of the daily papers published\nin such city prior to such application to the court for an order of\nsale; and provided also, that the court shall be satisfied that such\norder of sale shall not interfere with or impair the obligation\ncontained in any lease or contract made by such city to or with any\nperson or persons whatsoever.\n  5. Whenever a right of dower, whether inchoate or consummate, a\ntenancy by curtesy, or any other estate for life or for years shall have\nexisted in the preemptive rights so sold and conveyed, the owner of such\nparticular estate in the rights sold is entitled to receive from the\nmoneys arising from such sale either a sum in gross or the earnings of a\nsum invested for his benefit. The determination as to whether a sum in\ngross or the earnings of a sum invested shall be awarded to the owner of\nsuch particular estate shall be governed by the provisions of section\n968 with respect to the proceeds of a sale in partition.\n