N.Y. Gen. Oblig. Law § 13-105

§ 13-105. Effect of transfer of claim or demand. Where a claim or\ndemand can be transferred, the transfer thereof passes an interest,\nwhich the transferee may enforce by an action or special proceeding, or\ninterpose as a defense or counter-claim, in his own name, as the\ntransferrer might have done; subject to any defense or counter-claim,\nexisting against the transferrer, before notice of the transfer, or\nagainst the transferee. But this section does not apply, where the\nrights or liabilities of a party to a claim or demand, which is\ntransferred, are regulated by special provision of law; nor does it vary\nthe rights or liabilities of a party to a negotiable instrument, which\nis transferred.\n