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New York Consolidated Laws, Estates, Powers and Trusts Law - EPT § 10-10.4 Power to lease in tenant for life;  effect of mortgage

Current as of January 01, 2026 | Updated by Findlaw Staff

(a)   1 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.

1  No subd. (b) has been enacted.
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Cite this article: FindLaw.com - New York Consolidated Laws, Estates, Powers and Trusts Law - EPT § 10-10.4 Power to lease in tenant for life;  effect of mortgage - last updated January 01, 2026 | https://codes.findlaw.com/ny/estates-powers-and-trusts-law/ept-sect-10-10-4/

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