Article 23.--PROCEEDINGS FOR SALE, LEASE AND MORTGAGE OF REALTY
59-2305.Order.(a) In all cases the order shall describe the real estate to be sold,leased or mortgaged and may designate the sequence in which the severaltracts shall be sold, leased or mortgaged, subject to the provisions ofthis act.
(b) An order for sale shall direct whether the real estate shall be soldat private sale or public auction. If at private sale, it shall direct thatthe real estate shall not be sold for less than 3/4 of theappraised value. If at public auction, it shall direct the place or placesof sale. It shall direct that the sale be for cash, for cash and deferredpayments, or deferred payments. In all cases, the order shall specify thetime of payment, theinterest on deferred payments and the manner in which the payments shallbe secured.
(c) An order to lease shall not be made for less than 3/4 ofthe appraised value of the leasehold interest. The order shall direct thatthe lease be for cash, for cash and deferred payments or for deferredpayments. If the lease is of real estate used for farming, the leasemay be upon a crop share basis and the share shall be that recognized asstandard in the community, subject to the approval of the court. In all cases, theorder shall specify the time of payment, the interest on deferred paymentsand the manner in which the payments shall be secured.
(d) An order to mortgage shall fix the maximum amount of principal, themaximum rate of interest and the earliest and latest date of maturity andshall direct the purpose for which the proceeds shall be used.
(e) An order for sale, lease or mortgage shall remain in force untilterminated by the court, but no private sale or lease shall be made unlessthe real estate or theleasehold interest in the real estate has been appraised or reappraisedwithin six months preceding the sale or lease.
(f) If the petition and notice have included the details of a proposedtransaction and the requirements of K.S.A. 59-1703 and 59-2307, andamendments thereto, have been met, the court may confirmthe proposed transaction as a part ofits order to sell, lease or mortgage, and no report of sale or confirmationof sale shall be required.
History: L. 1939, ch. 180, § 260; L. 1968, ch. 175,§ 1; L. 1975, ch. 299, § 25; L. 1976, ch. 245, § 8; L. 1982, ch.237, § 1; April 15.
Article 23.--PROCEEDINGS FOR SALE, LEASE AND MORTGAGE OF REALTY
59-2305.Order.(a) In all cases the order shall describe the real estate to be sold,leased or mortgaged and may designate the sequence in which the severaltracts shall be sold, leased or mortgaged, subject to the provisions ofthis act.
(b) An order for sale shall direct whether the real estate shall be soldat private sale or public auction. If at private sale, it shall direct thatthe real estate shall not be sold for less than 3/4 of theappraised value. If at public auction, it shall direct the place or placesof sale. It shall direct that the sale be for cash, for cash and deferredpayments, or deferred payments. In all cases, the order shall specify thetime of payment, theinterest on deferred payments and the manner in which the payments shallbe secured.
(c) An order to lease shall not be made for less than 3/4 ofthe appraised value of the leasehold interest. The order shall direct thatthe lease be for cash, for cash and deferred payments or for deferredpayments. If the lease is of real estate used for farming, the leasemay be upon a crop share basis and the share shall be that recognized asstandard in the community, subject to the approval of the court. In all cases, theorder shall specify the time of payment, the interest on deferred paymentsand the manner in which the payments shall be secured.
(d) An order to mortgage shall fix the maximum amount of principal, themaximum rate of interest and the earliest and latest date of maturity andshall direct the purpose for which the proceeds shall be used.
(e) An order for sale, lease or mortgage shall remain in force untilterminated by the court, but no private sale or lease shall be made unlessthe real estate or theleasehold interest in the real estate has been appraised or reappraisedwithin six months preceding the sale or lease.
(f) If the petition and notice have included the details of a proposedtransaction and the requirements of K.S.A. 59-1703 and 59-2307, andamendments thereto, have been met, the court may confirmthe proposed transaction as a part ofits order to sell, lease or mortgage, and no report of sale or confirmationof sale shall be required.
History: L. 1939, ch. 180, § 260; L. 1968, ch. 175,§ 1; L. 1975, ch. 299, § 25; L. 1976, ch. 245, § 8; L. 1982, ch.237, § 1; April 15.
Article 23.--PROCEEDINGS FOR SALE, LEASE AND MORTGAGE OF REALTY
59-2305.Order.(a) In all cases the order shall describe the real estate to be sold,leased or mortgaged and may designate the sequence in which the severaltracts shall be sold, leased or mortgaged, subject to the provisions ofthis act.
(b) An order for sale shall direct whether the real estate shall be soldat private sale or public auction. If at private sale, it shall direct thatthe real estate shall not be sold for less than 3/4 of theappraised value. If at public auction, it shall direct the place or placesof sale. It shall direct that the sale be for cash, for cash and deferredpayments, or deferred payments. In all cases, the order shall specify thetime of payment, theinterest on deferred payments and the manner in which the payments shallbe secured.
(c) An order to lease shall not be made for less than 3/4 ofthe appraised value of the leasehold interest. The order shall direct thatthe lease be for cash, for cash and deferred payments or for deferredpayments. If the lease is of real estate used for farming, the leasemay be upon a crop share basis and the share shall be that recognized asstandard in the community, subject to the approval of the court. In all cases, theorder shall specify the time of payment, the interest on deferred paymentsand the manner in which the payments shall be secured.
(d) An order to mortgage shall fix the maximum amount of principal, themaximum rate of interest and the earliest and latest date of maturity andshall direct the purpose for which the proceeds shall be used.
(e) An order for sale, lease or mortgage shall remain in force untilterminated by the court, but no private sale or lease shall be made unlessthe real estate or theleasehold interest in the real estate has been appraised or reappraisedwithin six months preceding the sale or lease.
(f) If the petition and notice have included the details of a proposedtransaction and the requirements of K.S.A. 59-1703 and 59-2307, andamendments thereto, have been met, the court may confirmthe proposed transaction as a part ofits order to sell, lease or mortgage, and no report of sale or confirmationof sale shall be required.
History: L. 1939, ch. 180, § 260; L. 1968, ch. 175,§ 1; L. 1975, ch. 299, § 25; L. 1976, ch. 245, § 8; L. 1982, ch.237, § 1; April 15.
