10-10.5 - Power to sell in a mortgage - New York Statutes

§ 10-10.5 Power to sell in a mortgage Where a power to sell real property is given to a mortgagee or to the transferee in any other conveyance intended to secure the payment of money, the power is deemed a part of the security, and passes to and may be exercised by any person, who by assignment or otherwise, becomes entitled to the money so secured to be paid.