New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 33-1

Whenever real estate is devised, conveyed to or held by (a) an executor or trustee in trust for any person for life or until the happening of some event specified in the instrument creating or continuing the trust, or (b) a trustee in trust with power to sell at a specified time or upon the happening of some event, or (c) a person for life or until the happening of some event named in the instrument creating such an estate, and such real estate (1) is, at the time of the taking effect of the devise or conveyance, or at any time thereafter, charged with the payment of a legacy, encumbered with a mortgage or subject to the lien of any judgment, tax or assessment, or (2) has been sold or shall be liable to be sold for taxes or assessments, and no adequate provision is afforded by the estate of the testator for the discharge, satisfaction or payment of such legacy, mortgage, judgment, tax or assessment, or none except out of income from the real estate affected, and, because of such a situation, the interests of the life tenant, cestui que trust or owners of the particular estate or of the estates in remainder or reversion may be injured, impaired or lost, the superior court may, in an action brought in a summary manner or otherwise, direct the fiduciary to sell and convey or mortgage such real estate, or some part thereof, for such price as the court may deem most beneficial to all parties in interest. Or the court may, when such real estate has been devised or conveyed to a person for life or until the happening of some event named in the will, appoint under bond a trustee to sell and convey or mortgage such real estate.