N.Y. EPT Law § 3-1.3 — New York Code / Act EPT / Article 3 / Part 1 / Section 3-1.3
Who may receive testamentary dispositions of property;
Status: in_force

§ 3-1.3 Who may receive testamentary dispositions of property;\n          testamentary dispositions to unincorporated associations\n  (a) A testamentary disposition of property may be made to any person\nhaving capacity to acquire and hold such property.\n  (b) When a will disposes of property to an association which lacks\ncapacity to receive such property by will because it is unincorporated\nand the association may become incorporated under the law of this state\nor of the jurisdiction in which it has its principal office, such\ndisposition is valid despite the lack of capacity of the beneficiary if\nwithin three years after probate of the will such beneficiary becomes\nincorporated with capacity to take such disposition, subject to the\nfollowing:\n  (1) This section does not limit the power of the court to give effect\nto the intention of the testator and to preserve dispositions for the\nuse and benefit of unincorporated associations.\n  (2) In the case of a testamentary disposition of property to an\nunincorporated association in such manner that the estate may lawfully\nvest in such association, as provided in paragraph (b), at a future\ntime, the estate shall be treated as immediately vested either in the\ntrustee in whom any estate preceding such disposition is vested or, if\nthere is no such precedent trust, in the personal representative of the\ndecedent's estate as trustee, subject to any intermediate estate created\nby the will. The trust herein created is subject to the direction and\ncontrol of the surrogate's court as if it had been created by express\nprovision in the will. If the association is incorporated and empowered\nto receive the disposition, the trustee shall transfer the property\ndisposed of to the corporation so formed, but if the association is not\nincorporated, the trustee shall transfer the property to such persons as\nare entitled thereto.\n  (3) If a testamentary disposition to an association is made in such\nmanner as to take effect upon the incorporation of such association, as\nprovided in paragraph (b), and no disposition is made of the rents,\nprofits or other income accruing prior to such incorporation, the will\nshall be construed as directing the trustee described in subparagraph\n(2) to receive the rents, profits or other income and to hold them for\nthe benefit of the corporation when formed or, if such corporation is\nnot formed within the time prescribed by paragraph (b), for the benefit\nof the persons entitled to the property upon the failure of such\ndisposition.\n  (4) Notwithstanding any other law of this state governing (A) the\npurposes for which trusts may be created, (B) the rule against\nperpetuities or (C) the accumulation of income, a trust as provided in\nsubparagraph (2) is valid.\n  (5) During the continuance of any trust authorized by subparagraph\n(2), the unincorporated association to which the disposition is made may\nenforce such trust, and any such association has capacity as such,\ndespite the fact that it is not incorporated, to exercise such right and\nto take such proceedings as may be appropriate for the exercise or\nwaiver of such right or, in the manner permitted by law for renunciation\nby a testamentary beneficiary, to renounce the disposition. In the event\nof any such renunciation, the trust provided for in subparagraph (2)\nshall terminate and the property, including accumulations, shall vest in\nthe persons otherwise entitled thereto as if no such disposition had\nbeen made.\n  (6) This section does not limit the effectiveness of 8-1.1 with\nrespect to a disposition to which that section applies.\n