A party who has a right of dower, or is a tenant for life or for years, in or of an undivided share of the property sold, or has an inchoate right of dower or any other future right or estate, vested or contingent, or any person not in being who by any contingency may become entitled to any interest or estate in the property sold, is entitled to have a proportion of the proceeds of the sale invested, secured or paid over, in such manner as the court deems calculated to protect the rights and interests of the parties.
New York Legal Code