NY State — NY Real Property Actions & Proceedings Law

§ 403 — SECTION 403 Mortality and other tables

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

What is NY RPAPL § 403?

Quick Answer

This section outlines the use of mortality tables for valuations that depend on the continuation or termination of lives. It specifies that the table prescribed by the insurance law must be used, and if it lacks necessary data, alternative actuarial tables may be employed. Applies to property valuations involving life contingencies.

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

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§ 403 SECTION 403 Mortality and other tables

RPAPL § 403

In all valuations made under this article where such valuation depends upon the continuance of, or upon the termination of a life or lives in being, the table of mortality prescribed by section four thousand two hundred seventeen of the insurance law for new, ordinary life policies shall be employed in the manner required by accepted actuarial practice. If, in any case, such table fails to provide required data, other tables accepted by actuarial practice may be employed.

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