NY State — NY Real Property Actions & Proceedings Law

§ 970 — SECTION 970 Shares of unknown or absent owner

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

What is NY RPAPL § 970?

Quick Answer

This section addresses the procedure for handling shares belonging to unknown or absent owners in legal actions. It mandates that if a defendant is unknown or has not appeared in court, their shares must be paid into court and invested in permanent securities until claimed. Applies to legal representatives of absent owners.

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

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§ 970 SECTION 970 Shares of unknown or absent owner

RPAPL § 970

Where a person has been made a defendant as an unknown person, or where the name of a defendant is unknown, or where the summons has been served upon a defendant without the state or by publication, and he has not appeared in the action, the court shall direct his portion to be paid into court and invested in permanent securities at interest, for his benefit, until claimed by him or his legal representatives.

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