N.Y. Not-for-Profit Corporation Law § 205: Conveyance of real property to members for dwelling houses

§ 205. Conveyance of real property to members for dwelling houses.

A not-for-profit corporation, if its by-laws so provide, and pursuant

to the provisions thereof, and without leave of the court, may convey to

a member of the corporation a portion of its real property for the

erection thereupon of a cottage or other dwelling-house with suitable

outbuildings. When so conveyed the title to such portion, together with

the buildings thereon, shall continue in such member and on his death

pass to his heirs or devisees, but the land shall not be alienable

except to the corporation or to a member thereof.