Connecticut General Statutes 52-499 – Sale of land to promote the interest of beneficiaries
(a) The Superior Court may, on application of any trustee under a will admitted to probate in this state, order the sale of any real property within this state, devised to or held by the trustee in trust, whenever it will, in the opinion of the court, best promote the interest of the beneficiaries under the trust, upon notice given to all parties in interest, when the sale is not prohibited by the will. The court may make any orders necessary to protect the rights of all parties in interest and to carry the sale into full effect.
Terms Used In Connecticut General Statutes 52-499
- banks: shall include all incorporated banks. See Connecticut General Statutes 1-1
- Probate: Proving a will
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.
(b) Any application for sale shall be made to the superior court for the judicial district within which the probate district where the will was admitted to probate is situated.
(c) The court shall order the fund realized from the sale to be invested by the trustee, for the benefit of the parties interested in the trust, in such investments authorized by law to be made by the savings banks of this state as to the court seems advisable.