N.Y. Real Property Actions & Proceedings Law § 1601: Application by trustee for court authorization to mortgage, to lease, to sell, to acquire or to exchange real property or for confirmatio...

§ 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.