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§58-961.
§58-961.
When they shall deem it necessary, in order to preserve the value of
such property, or its rental value, administrators, administrators
with will annexed and executors of deceased persons, and guardians of
minors or incompetent persons may lease or extend existing leases as
to business property, or property to be improved for business
purposes, belonging to the estate of said deceased persons, minor or
incompetent person, for a term of not more than fifteen (15) years,
with the approval of the district court administering said estate of
such deceased person, or minor or incompetent person. In order to
obtain said approval said administrator, administrator with will
annexed, executor or guardian shall file in said district court a
petition setting out the general nature of the property desired to be
leased, or upon which the lease is desired to be extended, and the
facts relative to the necessity of such lease for the preservation of
the value of said property, or its rental value. The heirs, devisees
and legatees of said deceased person and the next of kin of said minor
or incompetent person are designated as persons interested in the
estate and are entitled to be heard with respect to such proposed
leasing. Provided, if the will of such deceased person shall authorize
the executor or administrator with will annexed to sell the property
of said decedent such authority shall be considered to include and
extend the power to lease said property and further compliance with
this act shall not be necessary.
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