§ 1662 - Sale of encumbered property of deceased - Vermont Statutes

§ 1662. Sale of encumbered property of deceased

The real or personal estate of a deceased person, which is mortgaged or pledged or has a lien thereon for the security of a debt, on motion of the executor, administrator or creditor, may be sold under the order of the probate court. The net proceeds shall be applied towards the payment of the secured debt which shall be reduced by the amount of the net proceeds of such sale. An executor or administrator may be licensed or ordered to sell any such real or personal estate under the same regulations as are provided in this chapter for the sale of real estate for the payment of debts. (Amended 1985, No. 144 (Adj. Sess.), § 81.)