N.Y. Real Property Actions & Proceedings Law § 1901: Release of rents reserved by leases in perpetuity

§ 1901. Release of rents reserved by leases in perpetuity. 1. Any

person interested in lands held under a lease in perpetuity, upon which

no rent has been paid for at least twenty years, may present his

petition to the courts mentioned in this section asking that it be

declared that the rents and reversion have been released to the owner of

the fee. Such petition shall be verified, shall describe the lease and

allege that the rents and reversion have been released, and shall state

such facts as the petitioner can ascertain relative to the execution of

a release and the identity of the persons who would otherwise be the

present owners of the rents and reversion and the last known owner

thereof.

2. Such petition may be presented to the supreme court or to the

county court of the county where the lands are situated. The court may

thereupon order all persons interested to show cause at a certain time

and place why the rents and reversion should not be declared to have

been released. A description of the lease and lands affected thereby

and the name of the last known owner of the rents and reversion shall be

specified in such order, and the order shall be published in such

newspaper or newspapers and for such time as the court shall direct. The

court may also direct the order to be personally served upon such

persons as it shall designate.

3. The court may issue commissions to take the testimony of witnesses

and may refer the petition to a referee to take and report proofs of the

facts stated in the petition. Upon being satisfied that the matters

alleged in the petition are true, the court may make an order declaring

that the rents and reversion have been released to the owner of the fee.

The nonpayment of rent under any such lease for twenty years shall be

presumptive evidence of such a release.

4. The entry of such order in the office of the clerk of the county

where such lands are situated shall have the same effect as a release of

such rents and reversion to such owner then duly executed and recorded.

The county clerk shall note on the margin of the record of the original

lease a minute of the entry of such order.