New York legislation · 2025-2026 General Assembly
New York A11590: Relates to assignment from a decedent's estate to a transferee for value in exchange for cash or other consideration
Status: In committee, August 5, 2026
Enacts certain provisions for the assignment from a decedent's estate to a transferee for value in exchange for cash or other consideration; requires certain conditions and a written agreement.
What the bill says
An act to amend the surrogate's court procedure act, in relation to certain assignments to a transferee for value.
From the amended text, August 5, 2026:
AN ACT to amend the surrogate's court procedure act, in relation to certain assignments to a transferee for value THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. The surrogate's court procedure act is amended by adding a new section 1425 to read as follows: § 1425. ASSIGNMENT TO A TRANSFEREE FOR VALUE 1. THIS SECTION APPLIES WHEN AN ASSIGNMENT FROM A DECEDENT'S ESTATE IS MADE TO A TRANSFEREE FOR VALUE WHO ACQUIRES ANY INTEREST OF A BENEFICIARY IN EXCHANGE FOR CASH OR OTHER CONSIDERATION. 2. FOR PURPOSES OF THIS SECTION, A TRANSFEREE FOR VALUE IS A PERSON WHO SATISFIES BOTH OF THE FOLLOWING CRITERIA: (A) THE PERSON PURCHASES THE INTEREST FROM A BENEFICIARY FOR CONSIDERATION PURSUANT TO A WRITTEN AGREEMENT; AND (B) THE PERSON, DIRECTLY OR INDIRECTLY, REGULARLY ENGAGES IN THE PURCHASE OF BENEFICIAL INTERESTS IN ESTATES FOR CONSIDERATION. 3. THIS SECTION SHALL NOT APPLY TO ANY OF THE FOLLOWING: (A) A TRANSFEREE WHO IS A BENEFICIARY OF THE ESTATE OR A PERSON WHO HAS A CLAIM TO DISTRIBUTION FROM THE ESTATE UNDER ANOTHER INSTRUMENT OR BY INTESTATE SUCCESSION; (B) A TRANSFEREE WHO IS EITHER THE REGISTERED DOMESTIC PARTNER OF THE BENEFICIARY, OR IS RELATED BY BLOOD, MARRIAGE, OR ADOPTION TO THE BENEFICIARY OR THE DECEDENT; OR (C) A …
Sponsors
- David Weprin (D, 24) · primary sponsor
Latest actions
- : PRINT NUMBER 11590A
- : AMEND (T) AND RECOMMIT TO JUDICIARY
- : REFERRED TO JUDICIARY
Subjects: Surrogate's Court Procedure Act
Common questions
- What is A11590?
- A11590 is a bill in the New York Legislature (2025-2026 General Assembly): Relates to assignment from a decedent's estate to a transferee for value in exchange for cash or other consideration.
- What does A11590 do?
- In its own words: An act to amend the surrogate's court procedure act, in relation to certain assignments to a transferee for value.
- What is the status of A11590?
- In committee as of August 5, 2026. Latest action: PRINT NUMBER 11590A (August 5, 2026).
- Who sponsored A11590?
- David Weprin (D, 24).
- Where is the official record for A11590?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/A11590
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.