N.Y. Comp. Codes R. & Regs. tit. 22 § 1963.6

Current through Register Vol. 46, No. 53, December 31, 2024

Section 1963.6 - Miscellaneous

Sale of Real Property

1. A petition for permission to sell real property pursuant to article 19 of SCPA must be accompanied by a copy of the contract of sale and a current appraisal of the subject property.

Inventory of Assets

2.

(a) A notice of the requirements of Rule 207.20 shall be sent by the clerk with original certificates of letters testamentary or administration. In general this rule requires the filing of an inventory of the assets which constitute the gross taxable estate within six months after the issuance of letters.

(b) If the required inventory is not filed 90 days after the date due, letters may be suspended and will not be reinstated until the requirements of Rule 207.20 are complied with.

Attorney Fees

3. A petition to fix and determine attorney fees pursuant to SCPA section 2110, must allege the specific dollar amount of the fee requested and must be accompanied by an affidavit of legal services.

Compromise and Account

4. The court requires that jurisdiction over either the defendant or the defendant's insurance carrier be obtained in any proceeding to compromise a cause of action for personal injury or wrongful death. This requirement is satisfied by either:

(a) a letter on insurance company letterhead advising of the settlement of a cause of action for a specific dollar sum in behalf of their insured defendant; or

(b) an original signed stipulation of settlement or court certified copy of stipulation placed on the record; or

(c) a waiver and consent signed and acknowledged by an insurance company officer who has the authority to execute; or

(d) service of citation on either the insurance carrier or the named defendant in the negligence action.

5. A statement of whether or not all funeral and medical expenses have been paid must be set forth in the petition.

6. A copy of the attorney's retainer agreement must be filed with the petition, regardless of whether the parties in interest are competent adults and have consented to the fee requested.

7. Regardless of whether the petition requests that settlement proceeds be allocated to wrongful death (which are nontaxable) or personal injury (which are taxable as estate assets), the court may require that the State Tax Department be cited for any settlement in excess of $108,000 and the Internal Revenue Service be served for any settlement in excess of $600,000.

8. A formal judicial account must be filed along with the petition for leave to compromise where:

(a) either any party in interest is under a disability; or

(b) there are disputed creditor's claims; or

(c) there are estate assets other than settlement proceeds; or

(d) the petitioner seeks to compromise both a cause of action for personal injury and wrongful death.

N.Y. Comp. Codes R. & Regs. Tit. 22 § 1963.6