N.Y. Estates, Powers & Trusts Law § 6-6.5: Purchaser for value or lender

§ 6-6.5 Purchaser for value or lender

(a) If a surviving spouse has apparent title to property to which this

part applies, a purchaser for value or a lender taking a security

interest in the property takes his interest in the property free of any

rights of the personal representative or a testamentary beneficiary or

distributee of the decedent.

(b) If a personal representative or a testamentary beneficiary or

distributee of the decedent has apparent title to property to which this

part applies, a purchaser for value or a lender taking a security

interest in the property takes his interest in the property free of any

rights of the surviving spouse.

(c) A purchaser for value or a lender need not inquire whether a

vendor or borrower acted properly.

(d) The proceeds of a sale or creation of a security interest shall be

treated in the same manner as the property transferred to the purchaser

for value or a lender.