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New York Estates, Powers and Trusts Law Section 2-1.6 - Disposition Of Property Where There Is No Sufficient Evidence That Persons Have Died Otherwise Than Simultaneously

Legal Research Home > New York Lawyer > Estates, Powers and Trusts > New York Estates, Powers and Trusts Law Section 2-1.6 - Disposition Of Property Where There Is No Sufficient Evidence That Persons Have Died Otherwise Than Simultaneously

  § 2-1.6. Disposition  of  property  where there is no sufficient evidence
            that persons have died otherwise than simultaneously
    (a) Where the title to property or the devolution thereof depends upon
  priority of death and there is no sufficient evidence that  the  persons
  have  died  otherwise  than  simultaneously, the property of each person
  shall be disposed of as if he had survived, except as otherwise provided
  in this section.
    (b) Where a testamentary disposition of property depends upon the time
  of death of two or more beneficiaries designated to  take  alternatively
  by  reason of survivorship and there is no sufficient evidence that such
  beneficiaries have died otherwise than simultaneously the property  thus
  disposed  of  shall  be divided into as many equal portions as there are
  alternative  beneficiaries  and  such  portions  shall  be   distributed
  respectively  to  those  who  would have taken the whole property in the
  event that  the  designated  beneficiary  through  whom  they  take  had
  survived.
    (c)  Where  there  is no sufficient evidence that two joint tenants or
  tenants by the entirety have  died  otherwise  than  simultaneously  the
  property  so  held  shall be distributed one-half as if one had survived
  and one-half as if the other had survived. If there are  more  than  two
  joint tenants and all of them have so died the property thus distributed
  shall  be  in the proportion that one bears to the whole number of joint
  tenants.
    (d) Where the insured and the beneficiary  in  a  policy  of  life  or
  accident  insurance  have  died and there is no sufficient evidence that
  they have died otherwise than simultaneously the proceeds of the  policy
  shall be distributed as if the insured had survived the beneficiary.
    (e)  This  section  shall  not  apply  in  the case of wills, lifetime
  trusts, deeds or contracts of insurance wherein a provision  other  than
  that  prescribed  by  this  section has been made for the disposition of
  property.
    (f)  Unless  otherwise  provided  in  the  documents   governing   the
  registration,  when the owner and a beneficiary of a security registered
  in beneficiary form pursuant to part 4 of title 13 of this chapter,  die
  and  there  is no sufficient evidence that they have died otherwise than
  simultaneously, the security shall  be  treated  as  if  the  owner  had
  survived the beneficiary.

Last modified: July 31, 2006