Borrowing Money; Refinancing and Repairing Property

A guardian may borrow money, with or without giving security, when it will benefit his ward, and in addition to the contingencies mentioned in § 4201 of this Title, may mortgage real or personal property of the ward in order to pay, reduce, extend or renew some lien or mortgage already subsisting on property of the ward or to erect, alter or repair buildings or other structures upon or otherwise to improve the property proposed to be mortgaged or some part thereof.