Statute · New York Estates, Powers & Trusts Law
N.Y. Est. Powers & Trusts Law § 10-10.4 — Power to lease in tenant for life; effect of mortgage
N.Y. Est. Powers & Trusts Law § 10-10.4
- Type
- Statute
- Source
- New York Estates, Powers & Trusts Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 10-10.4 Power to lease in tenant for life; effect of mortgage
Citator
N.Y. Est. Powers & Trusts Law § 10-10.4 — Power to lease in tenant for life; effect of mortgage is in force in the current edition of the Code, and nothing recorded condemns it.
§ 10-10.4 Power to lease in tenant for life; effect of mortgage
(a) The power of a tenant for life to make leases is neither extinguished nor suspended when such tenant executes a mortgage. The power is bound by the mortgage in the same manner as the real property embraced therein, and the lien of the mortgagee on such power:
(1) Entitles the mortgagee to an exercise of the power so far as the satisfaction of the debt requires; and
(2) Causes any subsequent interest, created by the tenant for life by an exercise of such power, to become subject to the mortgage as if in terms embraced therein.