§ 2201 - Mortgage of property by fiduciary - Vermont Statutes

§ 2201. Mortgage of property by fiduciary

If on motion and after notice and hearing it appears to be for the benefit of the estate, the probate court may authorize a fiduciary to mortgage any of the real estate or to mortgage, pledge or assign any of the personalty of the estate for the following purposes: to prevent a sacrifice of the estate; to make repairs and improvements upon the estate; to pay debts, legacies or charges of administration; to pay an existing mortgage, lien or tax on the estate, or to support a ward. The probate court may authorize a fiduciary to make an agreement for the extension or renewal of that existing mortgage or lien or of any other mortgage, lien, pledge or assignment created under the provisions of this chapter. (Amended 1985, No. 144 (Adj. Sess.), § 96.)