1. If the founder has not specified the term, immovable property shall be leased for a term of one year and lands for a maximum term of three (3) years, unless the interest of the endowment requires otherwise and permission is granted by the court. 2. If the lease is concluded for a longer term, even through successive contracts, it shall be reduced to the term specified in Paragraph (1) of this Article. 3. If the endowment is in need of development and has no revenue with which to finance such development, the court may authorize its lease for a term sufficient to enable its development.
Interpretation and application must be checked against the official text and current version.