North Dakota § 30.1-19-14 (3-814) Encumbered assets

North Dakota Statutes

§ 30.1-19-14 — (3-814) Encumbered assets

North Dakota·Title 30.1 Uniform Probate Code·Ch. 30.1-19 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 the creditor's 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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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 creditor's 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.

North Dakota § 30.1-19-14 ((3-814) Encumbered assets) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.