859.43 Encumbered assets; payment of debt. - Wisconsin Statutes

859.43

859.43 Encumbered assets; payment of debt.

859.43(1)

(1) Rights of secured creditors not affected. Nothing in this chapter shall affect or prevent any action or proceeding to enforce any mortgage, pledge, lien or other security agreement against property of the estate.

859.43(2)

(2) Payment. When any property in the estate is encumbered by mortgage, pledge, lien or other security agreement, the personal representative may pay the encumbrance or any part thereof, renew or extend any obligation secured by the encumbrance or may convey or transfer the encumbered assets to the creditor in satisfaction of the creditor's lien, in whole or in part, whether or not the holder of the encumbrance has filed a claim.

859.43 - ANNOT.

History: 1993 a. 486.

859.43 - ANNOT.

Cross-reference: See s. 863.13, which deals with exoneration of encumbered property.

859.43 - ANNOT.

Cross-reference: See s. 859.19, which deals with the payment of secured claims which have been filed.