NY Real Prop Actions L § 1616 (2021)
2021 New York Laws RPA - Real Property Actions and Proceedings Article 16 - Judicial Authorization of Sale, Lease, Mortgage, Acquisition, Exchange or Voluntary Partition 1616 - Application to Compensation Arising Out of Appropriation of Real Property by the State.

§  1616.  Application  to compensation arising out of appropriation of   real property by the state. 1. The procedure authorized by sections 1601   through 1614 as to  a  sale  of  real  property,  covering  all  created   interests  as mentioned therein and qualified in section 1615, shall, so   far as practicable, apply also to an application concerning  payment  of   compensation  arising  out  of  any  appropriation  by the state of real   property or of any interest therein, for public  purpose,  in  the  same   manner  that  such procedure would apply, but for such appropriation, to   an application thereunder for an order directing that the real  property   in question, or a part thereof, be sold.2. For the purpose, however, of the relief sought under the provisions   of  this  section,  all  references  in  this  and  in  any of the above   enumerated sections to a trustee  or  a  trust  shall  be  construed  as   relating  only  to  a trust estate created by an instrument other than a   will and under which the trustee has no valid power  of  sale  over  the   subject  property.  Where,  however,  a valid power of sale is given the   trustee under such instrument, he is hereby authorized  to  execute  the   transaction  in  the  same  manner  a  testamentary trustee may do under   section two hundred fifty-c of the  surrogate's  court  act,  and  which   execution,   including   all   releases   given   thereunder   by   such   nontestamentary  trustee,  shall  in  similar  scope  be   binding   and   conclusive  on all persons and interests as covered thereby in said last   mentioned section.3. In the case of any such appropriation where relief is sought  under   this  section,  the  relevant  proof  to  be  taken  and the hearing and   examination to be had before final order under the provisions of section   1609 shall be as to whether the compensation offered by  the  state,  or   any  agency  or  department  thereof, by way of a provisionally executed   agreement of adjustment or  otherwise,  for  the  total  value  of  such   appropriated  property  or  interest  and of all legal damages caused by   such appropriation, represents the fair market value of such property or   interest and just compensation therefor and for all legal damages caused   by such appropriation, including the damages, if any, sustained  by  the   entry  upon,  use  or  occupation of, or injury to, said property by the   state prior to completion of appropriation. If the court is satisfied as   to the adequacy of said offer, it shall,  in  the  final  order  in  the   proceeding,  authorize  the applicant if acting as trustee, and, if not,   then a referee to be appointed  thereunder  to  execute  the  authorized   transaction,  to  enter  into  or adopt any such agreement of adjustment   with, and in form submitted by, the state or any  agency  or  department   thereof  for the total compensation so offered; and on report under oath   to the court by such  trustee  or  referee  of  any  such  agreement  of   adjustment  so  undertaken by either of them, if it appears to the court   to conform in  all  particulars  to  the  final  order  authorizing  the   transaction,  an  order  shall  be  made  approving  and confirming such   agreement of adjustment and directing  such  trustee  or  referee,  upon   consummation  thereof,  in  behalf  of all persons in interest as to the   property affected by said appropriation, or as to  the  proceeds  to  be   derived  therefrom  in  said transaction, who shall have become bound by   said proceeding under the provisions of  section  1614  to  execute  and   deliver  to the state and/or any agency or department thereof, a release   of all claims on the part of such persons in interest  with  respect  to   the  total compensation offered as aforementioned, together with any and   all other documents and instruments which may be required by  the  state   or any agency or department thereof to give full effect to such release,   and  which  release  and attendant documents and instruments shall, upon   such execution and delivery  thereof,  become  and  remain  binding  and   conclusive on all of the aforesaid persons in interest. 4.  Said  order of confirmation shall, in the discretion of the court,   provide for  payment  out  of  said  total  compensation  of  reasonable   disbursements and of such allowances as to the court may seem proper, in   the manner and respectively to the participants and persons mentioned in   section  1613,  and  shall  also  authorize  said  trustee or referee to   receive the net proceeds therefrom after  such  payment  and  to  apply,   safeguard, manage and distribute said remaining fund as directed in said   order  of confirmation and in accordance with the relevant provisions of   section 1613.