Colorado § 15-12-814 - Encumbered assets.
Full text of Colorado Colorado Revised Statutes § 15-12-814 — Encumbered assets., with citation guidance and answers to common questions.
§ 15-12-814. Encumbered assets.
If any assets of the estate are encumbered by mortgage, pledge, lien, or other security interest, the personal representative may 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 lien, in whole or in part, whether or not the holder of the encumbrance has presented a claim, if it appears to be in the best interest 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.
Source: L. 73: R&RE, p. 1596, § 1. C.R.S. 1963: § 153-3-814. L. 75: Entire section amended, p. 599, § 36, effective July 1.
Frequently Asked Questions About Colorado § 15-12-814
What does Colorado Revised Statutes § 15-12-814 cover?
Section 15-12-814 ("Encumbered assets.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-12-814?
A common citation format is "Colorado Revised Statutes § 15-12-814" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-12-814 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.