§ 633.117 — Encumbered assets

Iowa § 633.117

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 633: PROBATE CODE

Text

When any assets of the estate are encumbered by mortgage, pledge, or other lien, the
fiduciary may pay such encumbrance or any part thereof, renew or extend any obligation
secured by the encumbrance, or may convey or transfer such 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, or the fiduciary may purchase lands claimed or contracted for by the
decedent, if it appears to be for the best interests of the estate and if the court shall so order.
The making of such payment shall not increase the share of the distributee entitled to such
encumbered assets.

Legislative History

[C51, §1380; R60, §2412; C73, §2428; C97, §3354; C24, 27, 31, 35, 39, §11977; C46, 50, 54, 58, 62, §635.72; C66, 71, 73, 75, 77, 79, 81, §633.117]