New York Consolidated Laws, Real Property Actions and Proceedings Law - RPA § 1746. When particular estates to be included in disposition

When the real property, or interest in real property, directed to be sold is subject, absolutely or contingently, to a right of dower or an estate for life, or for years, in the whole or any part thereof, the person having the prior right or estate may manifest in writing his consent, either to receive from the proceeds of the sale a gross sum to be fixed according to the principles of law applicable to annuities, in satisfaction of his right or estate, or to have a proportionate share of the proceeds of the sale invested, and the interest thereof paid to him, from the time of the investment or of the commencement of his right or estate, as justice requires, until the determination of his right or estate.  Upon filing the consent with the clerk, the judgment, in the discretion of the court, may direct a sale of the entire property to which the right or estate attaches.