Taken directly from Hoye's website. HERE
Yanmar Tractor Parts, Sales, Service, and Delivery.
"Three Point Won't Stay Up- Leaks Down.
Lift the three point all the way up and close the lock valve (usually located between your knees lust under the seat- see fig A). Shut off the tractor. If the three point still seeps down then you probably have a bad lift piston oring because, by closing the lock out valve, you have eliminated the valve & everything else in the system. If the three point stays up then you likely have a problem with the three point control valve."
And i swear this is exactly what i have reat in my IT service manual for the YM 240? Not postive but pretty sure. This is the way i understand it as well and what others have said in the past.
What your saying contradicts what Hoye has posted and what i thought? Are you sure your not getting it backwards? I just want to make sure cause i have a proble leaking down only if i cut tractor off and leave implement up (leaks faster than the specs allow in the maual), but if i close the seat valve it stops it or makes it so slow you wont notice it in a few hours i think.