New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 17-1

Where real estate belonging to a minor or mental incompetent or held in trust for any beneficiary is likely to be sold disadvantageously to the estate or at a sacrifice and the sale could be avoided if funds were raised as herein provided, or where with such funds the real estate may be saved or the guardian or trustee could advantageously reduce, redeem or pay off a lien or charge encumbering the real estate or any part of it, the superior court in an action may direct the guardian or trustee to sell so much personal property or borrow such sums on the security of all or any part of the real estate, as the court may deem advisable for such purposes and upon such terms and conditions as it may fix.