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§58-385b.
§58-385b.
To obtain an order for mortgaging such real estate for the purpose and
under the provisions hereof, the administrator or executor must
present a verified petition to the district court, or to the judge
thereof, setting forth a description of the property, real and
personal, on hand and undisposed of, the legally established debts
outstanding and unpaid, the legally ordered family allowance due and
unpaid, if any, the amount of the charges and expenses of
administration, the names and addresses of the heirs, devisees and
legatees of the decedent, and the specific reason why it will be to
the best interest of said estate to mortgage, rather than to sell,
such real estate or a part thereof. Such petition to mortgage shall
not be filed and the authority therefor shall not be given or order
therefor made, until after the time within which to present claims has
expired. Such authority shall not be given or order made therefor, and
no mortgage on any real estate shall be made, given, executed or
delivered under the provisions hereof, for an amount in excess of
two-thirds (2/3) of the appraised value thereof, as established by an
appraisal made by three disinterested citizens of the county within
one (1) year of the time of making such order to mortgage.
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