1602 - Application by owner of present or future interest for court authorization to mortgage, to lease or to sell real property. - New York Statutes

§ 1602. Application by owner of present or future interest for court authorization to mortgage, to lease or to sell real property. When the ownership of real property is divided into one or more possessory interests and one or more future interests, the owner of any interest in such real property or in the proceeds to be derived therefrom on a directed sale thereof, except the owner of a possessory estate in fee simple absolute therein, may apply to the court designated in section 1603 for an order directing that said real property, or a part thereof, be mortgaged, leased or sold. If any such owner is an infant or otherwise under disability, the application can be made on behalf of such person, by the person duly authorized by law to care for his property interests.