N.Y. Estates, Powers & Trusts Law § 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.