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New York Real Property Law Section 130-d - Fees And Allowances.

Legal Research Home > New York Lawyer > Real Property > New York Real Property Law Section 130-d - Fees And Allowances.

    § 130-d.  Fees  and  allowances. In the event of a default in a trust
  indenture necessitating the sequestration of the rents and income of the
  property covered thereby and where the trustee  or  committee  or  other
  person  or  persons  representing  the bondholders is or are lawfully in
  possession of the property and they or their attorneys,  if  any,  shall
  have rendered services in connection with the property at any time after
  default,  no  fees  or allowances shall be paid for such services unless
  and until affidavits showing the value thereof have  been  presented  to
  the  court  or  a justice thereof and such court or justice has approved
  the same and such fees and allowances, if approved,  shall  be  paid  in
  such manner and at such times as the court or justice shall direct.

Last modified: August 10, 2006