75-3-814 - Encumbered assets.
75-3-814. Encumbered assets.
If any assets of the estate are encumbered by mortgage, pledge, lien, or other securityinterest, the personal representative may pay the encumbrance or any part thereof, renew orextend any obligation secured by the encumbrance, or convey or transfer the assets to the creditorin satisfaction of his lien, in whole or in part, whether or not the holder of the encumbrance haspresented a claim, if it appears to be for the best interest of the estate. Payment of anencumbrance does not increase the share of the distributee entitled to the encumbered assetsunless the distributee is entitled to exoneration.
Amended by Chapter 194, 1977 General Session