§ 33-9-14 Authority of executor oradministrator to borrow. – Whenever it shall for any reason appear to be desirable for an executor oradministrator to borrow money, the superior court, upon bill or petition inequity filed by the executor or administrator, may authorize the executor oradministrator to borrow, for any one or more of the purposes specified in§ 33-9-15, such sum or sums, for such period or periods of time, and uponsuch terms and conditions as the court shall deem advisable, and the court mayauthorize the executor or administrator to mortgage, pledge, or otherwisesubject to lien, as security for the repayment of the money borrowed, the wholeor any part or parts of the personal estate in his hands; provided, however,that property specifically bequeathed shall not be mortgaged, pledged, orotherwise subjected to lien so long as there remains personal property notspecifically bequeathed which may be so mortgaged, pledged, or otherwisesubjected to lien. For the purpose of exercising any powers so granted, anexecutor or administrator may execute such promissory notes, bonds, mortgages,deeds of trust or other instruments, containing such powers of sale,conditions, covenants or other provisions, as may be necessary or proper in thecircumstances. In granting this authority, the court may impose such conditionsor restrictions and give such directions as it may deem advisable; and thecourt may either direct that particular property may be so mortgaged orpledged, or may authorize the executor or administrator to mortgage or pledgethe whole or such part or parts of the personal estate in his or her hands ashe or she may in his or her discretion deem advisable, subject, however, to theprovisions in regard to property specifically bequeathed.
§ 33-9-14 Authority of executor oradministrator to borrow. – Whenever it shall for any reason appear to be desirable for an executor oradministrator to borrow money, the superior court, upon bill or petition inequity filed by the executor or administrator, may authorize the executor oradministrator to borrow, for any one or more of the purposes specified in§ 33-9-15, such sum or sums, for such period or periods of time, and uponsuch terms and conditions as the court shall deem advisable, and the court mayauthorize the executor or administrator to mortgage, pledge, or otherwisesubject to lien, as security for the repayment of the money borrowed, the wholeor any part or parts of the personal estate in his hands; provided, however,that property specifically bequeathed shall not be mortgaged, pledged, orotherwise subjected to lien so long as there remains personal property notspecifically bequeathed which may be so mortgaged, pledged, or otherwisesubjected to lien. For the purpose of exercising any powers so granted, anexecutor or administrator may execute such promissory notes, bonds, mortgages,deeds of trust or other instruments, containing such powers of sale,conditions, covenants or other provisions, as may be necessary or proper in thecircumstances. In granting this authority, the court may impose such conditionsor restrictions and give such directions as it may deem advisable; and thecourt may either direct that particular property may be so mortgaged orpledged, or may authorize the executor or administrator to mortgage or pledgethe whole or such part or parts of the personal estate in his or her hands ashe or she may in his or her discretion deem advisable, subject, however, to theprovisions in regard to property specifically bequeathed.
§ 33-9-14 Authority of executor oradministrator to borrow. – Whenever it shall for any reason appear to be desirable for an executor oradministrator to borrow money, the superior court, upon bill or petition inequity filed by the executor or administrator, may authorize the executor oradministrator to borrow, for any one or more of the purposes specified in§ 33-9-15, such sum or sums, for such period or periods of time, and uponsuch terms and conditions as the court shall deem advisable, and the court mayauthorize the executor or administrator to mortgage, pledge, or otherwisesubject to lien, as security for the repayment of the money borrowed, the wholeor any part or parts of the personal estate in his hands; provided, however,that property specifically bequeathed shall not be mortgaged, pledged, orotherwise subjected to lien so long as there remains personal property notspecifically bequeathed which may be so mortgaged, pledged, or otherwisesubjected to lien. For the purpose of exercising any powers so granted, anexecutor or administrator may execute such promissory notes, bonds, mortgages,deeds of trust or other instruments, containing such powers of sale,conditions, covenants or other provisions, as may be necessary or proper in thecircumstances. In granting this authority, the court may impose such conditionsor restrictions and give such directions as it may deem advisable; and thecourt may either direct that particular property may be so mortgaged orpledged, or may authorize the executor or administrator to mortgage or pledgethe whole or such part or parts of the personal estate in his or her hands ashe or she may in his or her discretion deem advisable, subject, however, to theprovisions in regard to property specifically bequeathed.
