N.Y. Private Housing Finance Law § 214: Transfer of real property to redevelopment corporation

§ 214. Transfer of real property to redevelopment corporation.

Notwithstanding any requirement of law to the contrary or the absence of

direct provision therefor in the instrument under which a fiduciary is

acting, every executor, administrator, trustee, guardian or other

person, holding trust funds or acting in a fiduciary capacity, unless

the instrument under which such fiduciary is acting expressly forbids,

the state, its subdivisions, cities, all other public bodies, all public

officers, corporations organized under or subject to the provisions of

the banking law (including savings banks, savings and loan associations,

trust companies, private bankers and private banking corporations), the

superintendent of financial services as conservator, liquidator or

rehabilitator of any such person, partnership or corporation, persons,

partnerships and corporations organized under or subject to the

provisions of the insurance law, the superintendent of financial

services as conservator, liquidator or rehabilitator of any such person,

partnership or corporation, any of which owns or holds any real property

within a development area, may grant, sell, lease or otherwise transfer

any such real property to a redevelopment corporation, and receive and

hold any cash, stocks, income debentures, mortgages, or other securities

or obligations, secured or unsecured, exchanged therefor by such

redevelopment corporation, and may execute such instruments and do such

acts as may be deemed necessary or desirable by them or it and by the

redevelopment corporation in connection with the development and the

development plan.