New York § 58 - 58Consent of purchaser or assignee of debt
Full text of New York New York Consolidated Laws § 58 — 58Consent of purchaser or assignee of debt, with citation guidance and answers to common questions.
§ 58. 58Consent of purchaser or assignee of debt
§ 58. Consent of purchaser or assignee of debt. Where a consenting creditor is the purchaser or assignee of a debt against the petitioner, or the executor, administrator, trustee, or receiver of such a purchaser or assignee, he is deemed, for all the purposes of this article, except as to the declaration and receipt of dividends, a creditor only to the amount, actually and in good faith paid for the debt, by him, or by the decedent or other person, from whom he derives title, and remaining uncollected. This section is not affected by the recovery of a judgment for the debt, after the purchase or assignment; but in that case, the consenting creditor may include the uncollected costs, as if they were part of the sum paid for the debt.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 58
What does New York Consolidated Laws § 58 cover?
Section 58 ("58Consent of purchaser or assignee of debt") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 58?
A common citation format is "New York Consolidated Laws § 58" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 58 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.