If any assets of the estate are encumbered by mortgage, pledge, lien, or other security
interest, the executor or administrator may, except as otherwise provided by will,
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 or her lien, in whole or in part, whether or not the holder of the encumbrance
has filed a claim, if it appears to be for the best interests 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. (Added 1975, No. 240 (Adj. Sess.), § 7.)
In re Est. of Elizabeth LaFrance (Vt. Super. Ct. 2011). · cites it 2דCiting the general rule that the intent of the decedent controls on whether certain debts should be paid by the estate or by the beneficiaries, 14 V.S.A. § 1214, the probate court concluded that the homestead should be transferred to Stephen subject to the existing mortgage.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.