2006 New York Code - Application By Trustee For Court Authorization To Mortgage, To Lease, To Sell, To Acquire Or To Exchange Real Property Or For Confirmation Of A Lease

 
    § 1601. Application by trustee for court authorization to mortgage, to
  lease,  to  sell,  to  acquire  or  to  exchange  real  property  or for
  confirmation of a lease of real property. 1. When the assets of a  trust
  include an interest in real property, the trustee may apply to the court
  designated  in section 1603, and in the case of a testamentary trust, to
  the court having jurisdiction thereof, for  an  order  authorizing  such
  trustee  to  mortgage,  to lease or to sell such real property or a part
  thereof; or to acquire  land  adjacent  to  such  real  property  or  to
  exchange a portion of such real property for lands adjacent to such real
  property  when either such acquisition or exchange would tend to improve
  the boundary lines of such real property; or to confirm a  lease  for  a
  term  longer  than  ten  years  made  by a trustee of such real property
  without obtaining prior authorization by a court.
    2. An application for an order authorizing a trustee to  acquire  land
  adjacent to real property in which the trustee has an interest, or as to
  which  he  has a power of sale, may also be made when such real property
  and the  adjacent  land  to  be  acquired  have  the  same  building  or
  physically connected buildings thereon.