524.3-814 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 lien, in whole or in part, whether or not the holder of the encumbrance has
filed 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.
History: 1975 c 347 s 58; 1986 c 444