Such mortgage may be discharged by such administrator or trustee in the manner provided by law for the discharge of a mortgage by a mortgagee. Such discharge shall have the same effect as though made by the mortgagee or assignee thereof when living. An administrator or trustee appointed for such purpose shall have no authority relative to the estate of which he or she is appointed, other than as herein provided. The judge of such court, in his or her discretion, may require such administrator or trustee to give bonds as in his or her opinion the circumstances of the case require.