The court or chancellor, upon the application of executor or administrator, may allow him to cultivate or lease the farm or lands of the decedent for a period of not exceeding fifteen months from the grant of letters testamentary or of administration, if the interest of the estate, in the opinion of the court or chancellor, would be promoted thereby; or the court or chancellor, upon the application of the executor or administrator, may allow him to cultivate or lease the farm or lands of the decedent from year to year for the purpose of paying the debts of the decedent.