N.Y. SCP Law § 2106 — New York Code / Act SCP / Article 21 / Section 2106
Proceeding for compromise of controversies between claimants to property or estates where interests of persons under disability or not in...
Status: in_force

§ 2106. Proceeding for compromise of controversies between claimants to\n           property or estates where interests of persons under\n           disability or not in being are affected\n  1. Where the interests of persons under disability or not in being are\nor may be affected\n  (a) A fiduciary may petition for authorization to compromise any\ncontroversy between different claimants to the estate or property or\nportions thereof under administration in accordance with an agreement to\nwhich all parties in being claiming an interest in the estate affected\nby the agreement shall be parties in person or by guardian or committee.\n  (b) The proponent or any party to a probate proceeding may petition to\nadjust by compromise any controversy existing or which may arise between\nthe persons claiming under any will alleged to have been made by the\ndecedent and any persons claiming as distributees of decedent or\nclaiming to be entitled to a right of election or claiming pursuant to\nan agreement with the decedent or otherwise, in accordance with an\nagreement to which all such persons as are interested shall be parties,\nprovided that persons named as executors to whom letters have not issued\nand persons whose interests are not affected by the proposed compromise\nare not required to be made parties.\n  2. A person under disability or a person not in being who has a future\ncontingent interest is a necessary party and shall be represented by a\nguardian ad litem unless in the case of a person under disability his\nguardian, committee or conservator shall appear in his behalf. The\nguardian, committee or conservator so appearing or the guardian ad litem\nmay execute in behalf of the person for whom he appears all proper\ninstruments necessary to effect any compromise approved by the court.\n  3. If by the terms of the compromise money or property is directed to\nbe held for the benefit of a person under disability or a person not in\nbeing it may in a proper case be deposited in court subject to the order\nof the court.\n  4. An agreement of compromise made as herein provided if found by the\ncourt to be just and reasonable shall be valid and binding upon the\ninterests of persons under disability, persons not in being and all\nparties to the agreement.\n  5. An application for the approval of a compromise hereunder must be\nmade by verified petition or, if made in a pending proceeding, by\nverified supplemental petition, which shall show the provisions of any\ninstruments or documents under which claim is made to the property or\nestate in controversy, all facts concerning the identity and claims of\nthe parties to the controversy, the possible contingent interests of\npersons not in being and the necessity for the approval of the\ncompromise.\n  6. The court may entertain the application prior to the execution of\nthe proposed compromise agreement by all the parties required to execute\nit and may permit its execution after the commencement of the proceeding\nby any person interested.\n  7. The court shall inquire into the facts and make such order or\ndecree as justice shall require in any proceeding.\n