N.Y. Civil Practice Law & Rules § 1324: Claiming agent's duties after levy

§ 1324. Claiming agent's duties after levy. 1. Retention of property.

The claiming agent shall hold and safely keep all property or debts

paid, delivered, transferred or assigned to him or her or taken into his

or her custody to answer any judgment that may be obtained against the

defendant in the action, unless otherwise directed by the court or the

claiming authority, subject to the payment of the claiming agent's fees

and expenses, if any. Any money shall be held for the benefit of the

parties to the action in an interest-bearing trust account at a national

or state bank or trust company. If the urgency of the case requires, the

court may direct sale or other disposition of property, specifying the

manner and terms thereof, with notice to the parties to the action and

the garnishee who has possession of such property.

2. Inventory. Within fifteen days after service of an order of

attachment or forthwith after such order has been vacated or annulled,

the claiming agent shall file an inventory of property seized, a

description of real property levied upon, the names and addresses of all

persons served with the order of attachment, and an estimate of the

value of all property levied upon.