N.Y. SCP Law § 2107
This is the official text of N.Y. SCP Law § 2107, part of New York’s SCP Law — part of the compiled statutory law of New York, published by the state as "SCP Law." Browse the sections below, each linked to its official government source.
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Court may direct as to value, manner and time of sale of property and give advice and direction in extraordinary circumstances 1
Official statutory text
§ 2107. Court may direct as to value, manner and time of sale of\n property and give advice and direction in extraordinary\n circumstances\n 1. Whenever the value of property of an estate is uncertain or\ndependent upon the time and manner of sale thereof a fiduciary may apply\nby petition to the court for advice and direction as to the propriety,\nprice, manner and time of sale thereof.\n 2. The court may entertain applications by a fiduciary to advise and\ndirect in other extraordinary circumstances such as complex valuation\nissues, or tax elections, or where there is conflict among interested\nparties, but need not entertain jurisdiction if to do so would be merely\nto substitute the court's judgment for that of the fiduciary.\n 3. A substantial compliance with the authorization so given shall\nrelieve the fiduciary from any objection that the estate suffered a loss\non account of the action taken under court advice and direction.\n
Status: in_force · Read it on the official government site
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