New York Estates, Powers & Trusts Law Section 9-1.4 - Acquisition of real property by foreign trust

9-1.4 Acquisition of real property by foreign trust
Where  real  property  situated  in  this state is acquired by a trust
  validly created under the law of another jurisdiction, whether there  is
  a violation of the rule against perpetuities and whether a direction for
  the accumulation of rents and profits is valid are determined by the law
  of this state in effect at the time of the acquisition of such property.

Last modified: February 3, 2019