Prior to the conclusion of the hearings before the Referee, an offer of a higher price was received for the property from respondent Lodge Gate Forest, Inc. The Referee reported that the second sentence of section 107-1 of the Real Property Law required the approval of the sale to appellant. In rejecting that portion of the Referee's report, Special Term held that the statute required the court to look to the welfare of the owners of future interests and that it was to their...
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