§ 1601 — Application by trustee for court authorization to mortgage, to lease, to sell, to acquire or to exchange real property or for confirmatio...

§ 1601. Application by trustee for court authorization to mortgage, to\nlease, to sell, to acquire or to exchange real property or for\nconfirmation of a lease of real property. 1. When the assets of a trust\ninclude an interest in real property, the trustee may apply to the court\ndesignated in section 1603, and in the case of a testamentary trust, to\nthe court having jurisdiction thereof, for an order authorizing such\ntrustee to mortgage, to lease or to sell such real property or a part\nthereof; or to acquire land adjacent to such real property or to\nexchange a portion of such real property for lands adjacent to such real\nproperty when either such acquisition or exchange would tend to improve\nthe boundary lines of such real property; or to confirm a lease for a\nterm longer than ten years made by a trustee of such real property\nwithout obtaining prior authorization by a court.\n 2. An application for an order authorizing a trustee to acquire land\nadjacent to real property in which the trustee has an interest, or as to\nwhich he has a power of sale, may also be made when such real property\nand the adjacent land to be acquired have the same building or\nphysically connected buildings thereon.\n