517-1 Court approval of disposition of property under restraint. Notwithstanding any limitation in any instrument creating any estate or trust, whether or not eleemosynary or incorporated, and whether or not in effect prior to April 24, 1957, which forbids or restrains the sale of real property of such estate or trust or which limits the terms of lease of such property to periods less than fifty-five years, the trustees or officers of the estate or trust, with the approval of the court, may sell the real property of the estate or trust or may lease the same for periods up to fifty-five years whether or not the lease shall extend beyond the expiration date of the estate or trust. [L 1957, c 13, 2; Supp, 345A-2; HRS 517-1]

 

 

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