(a) When a guardian has reached an agreement with the other part owners on how to partition real estate as described by Section 1158.701, the guardian shall file with the court in which the guardianship proceedings are pending an application to have the agreement approved by the court.
(b) The application must:
(1) describe the real estate to be divided;
(2) state why it is in the best interests of the ward's estate to partition the real estate; and
(3) show that the proposed partition agreement is fair and just to the ward's estate.