N.Y. Real Property Actions & Proceedings Law § 969: Shares of infant, incompetent or conservatee

§ 969. Shares of infant, incompetent or conservatee. Where a party

entitled to receive a portion of the proceeds of sale is an infant,

incompetent or conservatee, such portion may be disposed of as follows:

1. The court may direct it to be invested in permanent securities in

the name and for the benefit of the infant, incompetent or conservatee,

or it may direct it to be paid over to the general guardian of the

infant, committee of the incompetent or conservator of the conservatee,

when the guardian, committee conservator shall have executed an

undertaking to such infant, incompetent or conservatee; or,

2. Where a general guardian, committee or conservator has been

appointed, upon proof that it will be for the best interest and

advantage of the estate of such infant, incompetent or conservatee

person, the court may authorize and direct such guardian, committee or

conservator, in the name of such infant, incompetent person or

conservatee, to make application for an award of a sum in gross as

provided in section 968; or,

3. If any of the moneys arising from the proceeds of such sale shall

have been paid to the county treasurer, and on due proof that such money

has remained uninvested in permanent securities for the space of three

months, the court may direct the same to be paid to the general

guardian, committee or conservator of such infant, incompetent or

conservatee upon his giving an undertaking for the faithful execution of

his trust; where said sum in hands of county treasurer does not exceed

the sum of one thousand dollars the court may direct the same to be paid

in accordance with subdivision five of this section; or,

4. In the case of an infant, incompetent or conservatee residing

without the state and having in the state or country where he or she

resides a general guardian, committee or conservator, or person duly

appointed under the laws of such state or country to the control, and

entitled by the laws of such state or country to the custody, of the

money of such infant, incompetent or conservatee, the court, upon

satisfactory proof of such facts and of the sufficiency of the

undertaking given by such general guardian, committee or conservator or

person in such state or country by the certificate of a judge of a court

of record of such state or country, or otherwise, may direct that the

portion of such infant, incompetent or conservatee arising upon such

sale shall be paid over to such general guardian, committee or

conservator or person; or,

5. If the portion of the proceeds arising upon such sale which belongs

to an infant, incompetent or conservatee residing within or without the

state does not exceed one thousand dollars, the court may direct that

the same may be paid to his father, or to his mother or to some

competent person with whom the infant, incompetent or conservatee

resides, or who has some interest in his welfare, for the use and

benefit of such infant, incompetent or conservatee.