§560:3-814 Encumbered assets. If any assets of the estate are encumbered by mortgage, pledge, lien, or other security interest, the personal representative may pay the encumbrance or any part thereof, renew or extend any obligation secured by the encumbrance or convey or transfer the assets to the creditor in satisfaction of the creditor's lien, in whole or in part, whether or not the holder of the encumbrance has presented a claim, if it appears to be for the best interest of the estate. Payment of an encumbrance does not increase the share of the distributee entitled to the encumbered assets unless the distributee is entitled to exoneration. [L 1996, c 288, pt of §1]
Section: Previous 560-3-807 560-3-808 560-3-809 560-3-810 560-3-811 560-3-812 560-3-813 560-3-814 560-3-815 560-3-816 560-3-901 560-3-902 560-3-903 560-3-904 560-3-905 NextLast modified: October 27, 2016