§ 2-7-618 — Purchase by holder of lien

At any sale of real or personal property upon which there is a
mortgage, pledge or other lien, the holder of the lien may
become the purchaser, and may apply the amount of his lien on
the purchase price. If no claim thereon has been filed or
allowed, the court, at the hearing on the report of sale and for
confirmation of the sale, may examine into the validity and
enforceability of the lien or charge and the amount due
thereunder and secured thereby, and may authorize the personal
representative to accept the receipt of the purchaser for the
amount due thereunder and secured thereby as payment pro tanto.
If the mortgage, pledge or other lien is a valid claim against
the estate and has been allowed, the receipt of the purchaser
for the amount due him from the proceeds of the sale is a
payment pro tanto. If the amount for which the property is
purchased, whether or not a claim for it has been filed or
allowed, is insufficient to defray the expenses and discharge
his mortgage, pledge or other lien, the purchaser shall pay an
amount sufficient to pay the balance of the expenses. Nothing
permitted under this section shall be deemed to be an allowance
of a claim based upon such mortgage, pledge or other lien.