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New York Surrogate's Court Procedure - Article 22 - § 2223 Funds Paid Into Court

Legal Research Home > New York Laws > New York Surrogate's Court Procedure (SCP) > New York Surrogate's Court Procedure - Article 22 - § 2223 Funds Paid Into Court

 
  § 2223. Funds paid into court
    1.  Where it appears that the whereabouts of any legatee, distributee,
  creditor or other person entitled to payment from the estate is  unknown
  the  decree  must  direct  the  fiduciary  to pay into court the legacy,
  distributive share or money due such person which is  not  paid  to  the
  person entitled thereto within such time as directed by the court, which
  shall, however, be not later than 6 months from the time when the decree
  is  made  or  when the legacy, distributive share or money is payable by
  the terms of the decree.
    2. If at the expiration of 6 months after the making of the decree  it
  is  shown to the court that payment of the legacy, distributive share or
  money cannot be made to the person entitled thereto,  an  order  may  be
  made directing the payment thereof into court.
    3.  The  money so paid into court can be paid out only by the order of
  the court or a court of competent jurisdiction.
    4. Except in the counties wholly within the city of New York,  if  the
  amount payable does not exceed $50 a county treasurer may pay it without
  a court order to the person entitled thereto.
    5. The state comptroller may institute any necessary proceeding before
  the  court  to compel the deposit of such moneys in court which have not
  been paid over or deposited after the expiration  of  6  months  or  the
  expiration of such shorter period as directed by the court.
    6. Where a sum of money in excess of $250 has been paid into court and
  subsequently  paid  to  the  state  comptroller  as  abandoned  property
  pursuant to paragraph (a)  of  subdivision  1  of  section  600  of  the
  abandoned  property  law an order for the payment of such money from the
  abandoned property fund shall be made by the court only upon  notice  to
  the state comptroller, to all persons who have made claim thereto and to
  such other persons as directed by the court.

Last modified: February 18, 2012