New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 19-4

When the superior court finds that it would be to the advantage of an estate, trust or guardianship for the fiduciary thereof to purchase real estate held therein or by the decedent, it may permit him to purchase the same for such price and upon such terms as the court may approve.

Nothing contained in this section shall authorize the sale of any real estate where the fiduciary is not authorized to do so by the terms of the will or other instrument, from which he derives his authority, by the direction of a court or by a statute of this state. Nor shall anything contained in this section authorize the purchase of any real estate by a fiduciary where there is a cofiduciary, without the concurrence of such cofiduciary.