SCPA 2107 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 2106 Proceeding for compromise of controversies between claimants to property or estates where interests of persons under disability or not in... up ARTICLE 21 Miscellaneous Proceedings next SECTION 2108 Proceeding by fiduciary for continuation of a business A fiduciary may petition for the continuation of a business other than a professio... Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 2107 Court may direct as to value, manner and time of sale of property and give advice and direction in extraordinary circumstances 1 Surrogate's Court Procedure Act (SCP) CHAPTER 59-A, ARTICLE 21 § 2107. Court may direct as to value, manner and time of sale of property and give advice and direction in extraordinary circumstances 1. Whenever the value of property of an estate is uncertain or dependent upon the time and manner of sale thereof a fiduciary may apply by petition to the court for advice and direction as to the propriety, price, manner and time of sale thereof. 2. The court may entertain applications by a fiduciary to advise and direct in other extraordinary circumstances such as complex valuation issues, or tax elections, or where there is conflict among interested parties, but need not entertain jurisdiction if to do so would be merely to substitute the court's judgment for that of the fiduciary. 3. A substantial compliance with the authorization so given shall relieve the fiduciary from any objection that the estate suffered a loss on account of the action taken under court advice and direction.