The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 14 V.S.A. § 1214)
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§ 1214. Encumbered assets
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.)