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§58-385.


§58-385.
   
   A. 1. The district court may, upon verified petition supported by
   sufficient evidence showing that the best interest of the owners of
   the real estate affected requires it, by order, grant authority to the
   administrators or executors of the estate of deceased persons or to
   the guardians of the estates of minors or incapacitated persons, to
   enter into contracts for and to renew or extend the time of payment of
   any mortgage, lien, or obligation which may by operation of law become
   a lien upon the real estate of the estate or ward, including
   homestead, or to execute a new mortgage for the purpose of paying off
   and securing the release of any such mortgage, lien, or obligation
   which may by operation of law become a lien; provided, in no case
   shall such authority be granted to mortgage, or contract for the
   renewal or extension of any mortgage, for an amount greater than may
   be necessary to pay an obligation which may by operation of law become
   a lien, or liens existing at the time an order is granted including
   principal, interest, taxes, and reasonable expenses as may be incident
   to perfecting the renewal, extension, or new mortgage.
   
   2. The court, in its discretion, may grant authority to include in a
   renewal or new mortgage an amount sufficient to pay for necessary
   repairs on real estate when repairs are necessary for the preservation
   of the property.
   
   B. 1. The district court may, upon verified petition supported by
   sufficient evidence showing that the best interest of the affected
   owners of the real estate requires it, by order, grant authority to
   the guardians of the estates of incapacitated persons to execute a new
   mortgage known as a home equity conversion mortgage or rising debt
   loan for the purpose of meeting the requirements for the health and
   safety of the ward, obtaining necessary services to meet those
   requirements, and protecting the rights of the ward so as to maintain
   the ward in his or her residence; provided, in no case shall authority
   be granted to mortgage or contract for the renewal or extension of any
   mortgage for an amount greater than two-thirds (2/3) of the appraised
   value of the real property of the ward.
   
   2. The court, in its discretion, may grant authority to include in a
   renewal or new mortgage an amount sufficient to pay for necessary
   repairs on real estate when repairs are necessary for the preservation
   of the property.
   

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