§ 28A-15-4. Encumbered assets. - North Carolina Statutes

§28A‑15‑4.  Encumbered assets.

When any assets of the estateare encumbered by mortgage, pledge, lien or other security interest, thepersonal representative may pay the encumbrance or any part thereof, renew orextend any obligation secured by the encumbrance, or convey or transfer theencumbered assets to the creditor in satisfaction of his lien, in whole or inpart, whether or not the holder of the encumbrance has filed a claim, if itappears to be for the best interest of the estate; provided that payment of anencumbrance shall not increase the share of the distributee entitled to theencumbered assets unless the distributee is entitled to exoneration by expressprovisions of the will. (1973, c. 1329, s. 3.)