NY State — NY Real Property Law

§ 194 — SECTION 194 Surplus proceeds of sale under purchase-money mortgages

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Statute text reproduced from nysenate.gov. Not attorney-reviewed for your situation — for reference only.

What is NY RPL § 194?

Quick Answer

This section addresses the rights of a widow to receive the interest or income from one-third of the surplus proceeds from the sale of land under purchase-money mortgages, following the death of her husband. This applies to situations where the property is sold to satisfy a mortgage or foreclosure judgment.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 194 SECTION 194 Surplus proceeds of sale under purchase-money mortgages

RPL § 194

Where, in a case specified in the last section, the mortgagee, or a person claiming under him, causes the land mortgaged to be sold, after the death of the husband, either under a power of sale contained in the mortgage, or by virtue of a judgment in an action to foreclose the mortgage, and any surplus remains, after payment of the money due on the mortgage and the costs and charges of the sale, the widow is nevertheless entitled to the interest or income of one-third part of the surplus for her life, as her dower.

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