§ 1221. Action to sell preemptive rights against the city of New York.
1. In all cases where several persons are the owners, or claim to be the
owners of any real estate or chattels real lying within the bounds of
the city of New York, having different estates, or estates in common
therein, in possession, remainder, or reversion, and which such persons
shall, by virtue of such ownership, or claim to such ownership, be
entitled, or claim to be entitled, by law to a preemptive right to have,
take, or demand the grant or lease of any other land, or easement in
land, from such city, the supreme court shall have power, and such court
is hereby vested with full power and authority, on the application of
either of such owners, or of such city, to decree an absolute sale and
conveyance of such right of preemption, and to make such disposition of
the net moneys arising from such sale, after the payment of the costs
and expenses of the proceedings, as shall be just and proper, according
to the rights and interests of such several owners.

2. Whenever any owner shall reside in the city of New York, notice of
such intended application shall be served personally on such owner, or
by leaving the same at his dwelling-house with some person of suitable
age and discretion at least twenty days before such application is made;
and in all cases where such owner shall reside out of such city and
within any of the United States, and such place of residence be known to
the applicant, such notice shall be served by mail, addressed to such
owner at his place of residence, at least three months before such
application is made. Proof of such service by affidavit shall be made to
the court before any order of sale shall be made. Any of the parties to
such suit may become the purchaser on such sale.

3. In all cases where any owner shall be an infant, a guardian shall
be appointed for such infant, who shall give the like security, and
possess the like powers, and discharge the like duties as in cases for
the partition of lands.

4. Such sale shall be made and conducted on like notice by the like
officer, and in the same manner and form as sales of real estate on the
foreclosure of a mortgage by virtue of a decree or order of such court,
and a deed of conveyance for such right of preemption shall in like
manner be executed and delivered to the purchaser, which deed shall vest
in the purchaser absolutely all the claim, right, title, and interest of
the owner of such right of preemption, and every of them, of, in or to
such right of preemption thus sold and conveyed; provided always, in
every case the applicant shall give six weeks' previous notice of such
intended application if the owners entitled by law to such preemption
right are residents, and six months' previous notice of such intended
application if the owners entitled by law to such preemption right are
non-residents of the state, by publication for three months
successively, twice in each week, in two of the daily papers published
in such city prior to such application to the court for an order of
sale; and provided also, that the court shall be satisfied that such
order of sale shall not interfere with or impair the obligation
contained in any lease or contract made by such city to or with any
person or persons whatsoever.

5. Whenever a right of dower, whether inchoate or consummate, a
tenancy by curtesy, or any other estate for life or for years shall have
existed in the preemptive rights so sold and conveyed, the owner of such
particular estate in the rights sold is entitled to receive from the
moneys arising from such sale either a sum in gross or the earnings of a
sum invested for his benefit. The determination as to whether a sum in
gross or the earnings of a sum invested shall be awarded to the owner of
such particular estate shall be governed by the provisions of section
968 with respect to the proceeds of a sale in partition.