New York Estates, Powers & Trusts Law Section 10-10.5 - Power to sell in a mortgage

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.

Last modified: February 3, 2019