11 Power To Spend Money On Repairs And Improvements

11 If it appears to the court, on petition presented to it by a trustee, executor or administrator, that it is necessary or expedient in the interest of the parties concerned to spend money to prevent the deterioration in value of land belonging to the trust estate or to increase its productive power, the court may by order, subject to the directions and conditions it thinks fit and with due regard to the rights of all persons interested in the trust estate, authorize the trustee, executor or administrator to

• (a) spend money of the trust estate, or
• (b) borrow or raise money by way of mortgage or charge on all or part of the trust estate, and to spend that money

• for the repair or improvement of the land, or for the erection on the land of a building or an addition to or improvement of a building.

1979-414-11.