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November 21, 2024 Rain | 46°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS
  3. Title II DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS
  4. Chapter 190B MASSACHUSETTS UNIFORM PROBATE CODE
  5. Article III PROBATE OF WILLS AND ADMINISTRATION
  6. Section 3-814 Encumbered assets

Section 3-814

Section 3-814: Encumbered assets

Section 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 his 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 shall not increase the share of the distributee entitled to the encumbered assets unless the distributee is entitled to exoneration.