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This entry was published on 2014-09-22
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SECTION 1602
Application by owner of present or future interest for court authorization to mortgage, to lease or to sell real property
Real Property Actions & Proceedings (RPA) CHAPTER 81, ARTICLE 16
§ 1602. Application by owner of present or future interest for court
authorization to mortgage, to lease or to sell real property. When the
ownership of real property is divided into one or more possessory
interests and one or more future interests, the owner of any interest in
such real property or in the proceeds to be derived therefrom on a
directed sale thereof, except the owner of a possessory estate in fee
simple absolute therein, may apply to the court designated in section
1603 for an order directing that said real property, or a part thereof,
be mortgaged, leased or sold. If any such owner is an infant or
otherwise under disability, the application can be made on behalf of
such person, by the person duly authorized by law to care for his
property interests.