The executor or administrator or guardian after having negotiated the sale of any such leasehold estate or interest therein, or after having entered into any agreement, as authorized in Section One (1) of this act, shall file with the court a verified application for the approval of such sale or agreement. An application for the approval of a sale shall set forth the interest of the estate of said decedent or ward in said leasehold as nearly as same can be determined, the lands covered thereby, the part of or interest in said leasehold being sold, the name of the purchaser, the consideration for the sale, and shall allege that the sale is for the best interest of the estate of said decedent or ward. A copy of the lease or leases and the proposed assignment or conveyance thereof shall be attached to the application. An application for the approval of an agreement shall set forth the interest of the estate of said decedent or ward in the leasehold, the lands covered thereby, a brief statement of the purpose of said agreement and the part of or interest in said leasehold covered thereby, and shall allege that said agreement is for the best interest of the estate of said decedent or ward. A copy of the agreement shall be attached to said application. Where both a sale and agreement or agreements pertain to the same leaseholds, or are the result of the same transaction, a single application may be filed. Upon the filing of any such application the court must fix a day for hearing same pursuant to notice as provided in Section Three (3) of this act.

Laws 1955, p. 304, § 2.