Sale or reinvestment of portions of estate.
Section 569
SEC. 569. Sale or reinvestment of portions of estate. — When the income of an estate under guardianship is insufficient to maintain the ward and his family, or to maintain and educate the ward when a minor, or when it appears to the satisfaction of the court that it is for the benefit of the ward that his real estate or some part thereof should be sold, and the proceeds thereof put out at interest, or invested in some productive security, or in the improvement or security of other real estate of the ward, the guardian may present to the judge or court by which he was appointed through a verified petition, setting forth the condition of the estate of his ward and the facts and circumstances on which the petition is founded, tending to show the necessity or expediency of the sale. If it appears to the court or judge that it is necessary, or would be beneficial to the ward that the estate or some part of it should be sold, the court shall thereupon make an order directing the next of kin to the ward, and all persons interested in the estate, to appear before the judge or court, at the time and place therein specified, not less than four nor more than eight weeks from the time of making such order, to show cause why an order should not be granted for the sale of such estate. If it appears that it is necessary, or would be beneficial to the ward, to sell the estate, or some portion of it, the court shall order the sale to be made and the proceeds thereof to be expended for the maintenance of the ward and his family, or the education of the ward, if a minor, or for the putting of the same out at interest, or the investment of the same as the circumstances may require. Upon the hearing, the court or judge shall hear the proofs and allegations of the petitioner and next of kin, and other persons interested, together with their witnesses, and may grant or refuse the order, as the best interests of the ward may require. The court or judge shall make such order as to costs of the hearing as may be just. If the prayer of the petition is granted, the order of sale shall specify the causes why the sale is necessary, or beneficial, and may order the sale to be made, either at public or private sale. The original bond of the guardian shall stand as security for the proper appropriation of the proceeds of the sale, but the judge or court may, if deemed expedient, require an additional bond as a condition for the granting of the order of sale. No order of sale granted in pursuance of this section shall continue in force more than one year after granting the same, without a sale being had. The petition, notice to heirs, and parties interested, and order of the court or judge in the premises, shall be recorded by the clerk of court as a part of the record of the guardianship.