Colorado § 15-12-814 Encumbered assets

Colorado Statutes

§ 15-12-814 — Encumbered assets

Colorado § 15-12-814

Title 15Probate,

Art.Probate of Wills and Administration

This text of Colorado § 15-12-814 (Encumbered assets) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 15-12-814 (2026).

Text

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 in 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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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 in 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.