N.Y. Real Property Actions & Proceedings Law § 968

§ 968. Manner of payment of proceeds to owner of particular or future\nestate. Whenever the whole or a part of the proceeds of a sale\nrepresents the interest of a particular estate, and also represents one\nor more other interests subsequent thereto, the power to determine\nwhether the owner of the particular estate shall receive, in\nsatisfaction of his estate or interest, a sum in gross or shall receive\nthe earnings, as they accrue, of a sum invested for his benefit in\npermanent securities at interest, rests in the discretion of the court,\nexcept that if all parties affected shall have agreed either to the\npayment of a sum in gross or the investment of the proceeds the court\nshall, by order, give effect to such agreement. The application of the\nowner of any such particular estate for the award of a sum in gross\nshall be granted unless the court finds that unreasonable hardship is\nlikely to be caused thereby to the owner of some other interest in the\naffected real property. The application for the award of a sum in gross\nby the owner of some interest in the affected real property other than\nthe owner of the particular estate shall be granted if the court finds\nthat the granting of such application is equitable under the\ncircumstances.\n