Forms of Civil Procedure : Adapted to Practice And Pleading Under the Code of Civil Procedure of the State of New York, And Under the Codes of Other States Having Similar Codes, With Full Notes And References to Authorities

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U. S. Trust Co.
V. Roche (116 N. Y., 120), Matter of Roe (119 N. Y., 509).
Executors and testamentary trustees who are authorized to receive the rents and income of the residuary estate have power to lease the same (Corse v. Corse (144 N. Y., 569).
Section 86 of chapter 547 of Law8 of 1896, provides as follows as to leasing real property by a trustee for the life of a beneficiary: A trustee appointed to hold real property during the life of a beneficiary, and to pay or apply the rents, income a
...nd profits thereof to, or for, the use of such beneficiary, may execute and deliver a lease of such real property for a term not exceeding five years, without application to the court. The Supreme Court may, by order, on such terms and conditions as seem just and proper, in respect to rental and renewals, authorize such a trustee to lease such real property for a term exceeding five years, if it appears to the satisfaction of the court that it is for the best interest of the trust estate, and may authorize such trustee to covenant in the lease to pay at the end of the term, or renewed term, to the lessee the then fair and reasonable value of any building which may have been erected on the premise* during such term.

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