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.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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