Arizona Statutes
§ 14-3814 — Encumbered assets
Arizona·Title 14 Arizona Revised Statutes·Ch. 3 PROBATE OF WILLS AND ADMINISTRATION·Art. 8 Creditors' Claims
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 does not increase the share of the distributee entitled to the encumbered assets unless the distributee is entitled to exoneration.
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Related
Arizona Health Care Cost Containment System v. Allen
173 P.3d 448 (Court of Appeals of Arizona, 2007)
Binder v. Fruth
721 P.2d 679 (Court of Appeals of Arizona, 1986)
Nearby Sections
15
§ 14-10001
Short title§ 14-10002
Definitions§ 14-10003
Scope of chapter§ 14-10004
Chapter supplemented by other law§ 14-10008
Disclaimer of interest by trustee§ 14-10012
Delivery or filing; definition§ 14-10013
When disclaimer barred or limited§ 14-10014
Tax qualified disclaimer§ 14-10015
Recording of disclaimer