EPTL 13-3.4 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 13-3.3 Designation of trustee to receive proceeds of thrift, savings, up PART 3 Miscellaneous Provisions next SECTION 13-3.5 Action or proceeding by foreign personal or other legal Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 13-3.4 Payment or delivery of property to foreign fiduciaries Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 13, PART 3 § 13-3.4 Payment or delivery of property to foreign fiduciaries (a) Whenever any foreign fiduciary, by whatever title he is designated, of the property or estate of a non-domiciliary infant, incompetent or decedent is authorized, by the laws of the foreign jurisdiction where the infant or incompetent is domiciled or the decedent was domiciled, to receive any personal property in the possession or control of any person or fiduciary in this state, such person or fiduciary may pay or deliver the property to such foreign fiduciary without an order of the court, and the receipt and acquittance from such foreign fiduciary is a sufficient release and discharge of the person or fiduciary paying or delivering such property. For purposes of this section the status of a person as an "infant" or "incompetent" shall be determined by the law of his domicile. (b) No person or fiduciary shall be released and discharged, as provided in paragraph (a), who: (1) Has received written notice of the appointment, in this state, of a principal or ancillary representative of the property or estate, or of the existence of creditors, in this state, of such infant, incompetent or decedent. (2) In the case of a testamentary disposition or a distributive share of a decedent's estate, has reason to believe that such foreign fiduciary or the persons whom he represents would not have the benefit, use or control of such disposition or distributive share.