(a) Notwithstanding the absence of a valid power therein, every will of a person dying after the effective date of this Code, shall be construed to give to the executor or trustee, who has duly qualified, the power to take possession, collect the rents, and manage, and to sell, mortgage and lease, all of the real property, and any interest in any real property, owned by the decedent at the time of his death, and such power may be exercised by the executor or executors, or by any administrator with the will annexed, or by a successor or substituted trustee, subject to the limitations stated in subsection (b) of this section.
(b) The power to take possession, collect rent, and manage, and to sell, mortgage or lease, referred to in subsection (a) of this section, shall not be exercised, however, (1) where the will expressly prohibits the exercise thereof; (2) or as to such real property as the will expressly provides shall not be sold, mortgaged or leased; (3) and shall not be deemed to include such real property as has been specifically devised to any one person not under disability at the time the sale, mortgage or lease takes effect, or to any one corporation capable of taking the same; (4) except that the power to take possession, collect the rents, and manage, and to sell, mortgage or lease, may be exercised, in the case of property devised and within clauses (1), (2), and (3) of this subsection, where such power is necessary for the payment of administration expenses, funeral expenses, debts or transfer or estate tax, upon approval by the district court.
(c) This additional grant of power to sell, mortgage and lease shall not be deemed to affect any existing authorization or judicial proceeding or action for the sale, mortgage or lease of real estate pursuant to the provisions of Title 28.