N.Y. Surrogate's Court Procedure Act § 1915: Allowance on bid to spouse, beneficiary or creditor purchasing 1

§ 1915. Allowance on bid to spouse, beneficiary or creditor purchasing

1. If upon a sale a spouse, beneficiary or creditor of the decedent

becomes the purchaser of any of the decedent's real property the court

may, upon his application, direct the amount of his elective share,

legacy, distributive share or claim, as the case may be, to be allowed,

in the first instance, upon the purchase price and such purchaser shall

be required to pay only the balance at the time of the sale.

2. If the proceeds of the decedent's real property shall be

insufficient to satisfy the cost and expenses of administration and the

debts and funeral expenses of the decedent, the purchasing spouse,

beneficiary or creditor shall be allowed and credited upon the judicial

settlement of the accounts of the fiduciary only the amount he may be

entitled to receive upon his elective share, legacy, distributive share

or claim and shall then pay the difference between the amount originally

allowed and amount he is entitled to receive.

3. If any purchaser has credit on his bid as above provided no deed

shall be delivered to him until the judicial settlement of the accounts

of the fiduciary and not until he shall have paid the entire amount

required under the provisions of this section.