Section 4 Heirs under new entails may sell, lease, feu, and charge on the same conditions as heirs under old entails.

It shall be lawful for an heir in possession of an entailed estate held under an entail, dated on or after the first day of August one thousand eight hundred and forty-eight, to sell the estate and to grant feus and long leases, and to charge the estate with debts or incumbrances and for improvement expenditure, and to convey, bequeath, or assign the amount of such expenditure in like manner and with the like consents as if the entail were dated prior to the said date.