The New York Court of Chancery was established during the colonial administration on August 28, 1701, the colonial governor acting as Chancellor. The New York State Constitution of 1777 continued the court but required a lawyer to be appointed Chancellor. It was the court with jurisdiction on cases of equity in the state of New York from 1777 to 1847. It served also as a court of appeal which reexamined cases decided by the New York State Supreme Court.
The Chancellor of New York, during the existence of the post, was the highest judicial officer in the state. From 1777 to 1822, he was an ex officio member of the Council of Revision. The Chancellor was also an ex officio member of the Court for the Trial of Impeachments and Correction of Errors in which his decisions could be appealed.
The Court of Chancery was abolished by the New York State Constitutional Convention of 1846, which reorganized the New York state judicial system. This became effective on July 5, 1847, when its equity jurisdiction was transferred to the New York Supreme Court and its appellate jurisdiction was transferred to the New York Court of Appeals. The Chief Judge of the Court of Appeals succeeded the Chancellor as the Head of the State's judicial system.