859.43 Encumbered assets; payment of debt.
(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.
(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.
History: 1993 a. 486.
Cross-reference: See s. 863.13, which deals with exoneration of encumbered property.
Cross-reference: See s. 859.19, which deals with the payment of secured claims which have been filed.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 859 - Probate — claims.
859.01 - Time for filing claims.
859.02 - Limitation on claims.
859.03 - Continuance of separate action.
859.09 - Transfer of claims when administration fails.
859.13 - Form and verification of claims.
859.15 - Effect of statute of limitations.
859.18 - Satisfaction of obligations at death of a spouse.
859.23 - Payment of contingent claims by distributees.
859.25 - Priority of payment of claims and allowances.
859.27 - Execution and levies prohibited.
859.29 - Persons interested may be informed of claims.
859.31 - Compromise of claims.
859.33 - Contest of claims; procedure.
859.35 - Prompt judgment; hearing if claim filed over one year.
859.39 - Delay of payment of claims when funds are insufficient.
859.40 - Creditor's action for property not inventoried.
859.41 - Creditor's action for property fraudulently sold by decedent.
859.43 - Encumbered assets; payment of debt.
859.47 - Payment of unfiled claims.
859.48 - Claims of creditors without notice.
859.49 - Last illness and funeral expense of deceased spouse.