New Mexico § 45-3-814 - Encumbered assets
Full text of New Mexico New Mexico Statutes Annotated § 45-3-814 — Encumbered assets, with citation guidance and answers to common questions.
§ 45-3-814. 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 for 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.
Frequently Asked Questions About New Mexico § 45-3-814
What does New Mexico Statutes Annotated § 45-3-814 cover?
Section 45-3-814 ("Encumbered assets") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. 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 New Mexico § 45-3-814?
A common citation format is "New Mexico Statutes Annotated § 45-3-814" (New Mexico). 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 New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 45-3-814 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico 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 New Mexico.