N.Y. Real Property Actions & Proceedings Law § 923: Security for credit on sale

§ 923. Security for credit on sale. The portion of the purchase-money

for which credit is allowed in the interlocutory judgment shall be

secured at interest by a mortgage upon the property sold, with a bond of

the purchaser; and by such additional security, if any, as the court

prescribes. The officer making the sale may take separate mortgages and

other securities in the name of the county treasurer of the county in

which the property is situated for such convenient portions of the

purchase-money as are directed by the court to be invested; and in the

name of the owner, for the share of any known owner of full age who

desires to have it invested.