2-7-618. Purchase by holder of lien.
At any sale of real or personal property upon which there is a mortgage, pledge or other lien, the holder of the lien may become the purchaser, and may apply the amount of his lien on the purchase price. If no claim thereon has been filed or allowed, the court, at the hearing on the report of sale and for confirmation of the sale, may examine into the validity and enforceability of the lien or charge and the amount due thereunder and secured thereby, and may authorize the personal representative to accept the receipt of the purchaser for the amount due thereunder and secured thereby as payment pro tanto. If the mortgage, pledge or other lien is a valid claim against the estate and has been allowed, the receipt of the purchaser for the amount due him from the proceeds of the sale is a payment pro tanto. If the amount for which the property is purchased, whether or not a claim for it has been filed or allowed, is insufficient to defray the expenses and discharge his mortgage, pledge or other lien, the purchaser shall pay an amount sufficient to pay the balance of the expenses. Nothing permitted under this section shall be deemed to be an allowance of a claim based upon such mortgage, pledge or other lien.
Structure Wyoming Statutes
Title 2 - Wills, Decedents' Estates and Probate Code
Chapter 7 - Administration of Estates
Article 6 - Sale and Other Disposition of Property
Section 2-7-601 - When Conveyance Required; Generally.
Section 2-7-602 - When Conveyance Required; Time and Place for Hearing; Notice.
Section 2-7-603 - When Conveyance Required; Hearing.
Section 2-7-604 - When Conveyance Required; Order for Conveyance; Journal Entry.
Section 2-7-605 - When Conveyance Required; Execution.
Section 2-7-606 - When Conveyance Required; Dismissal of Petition; Specific Performance.
Section 2-7-607 - When Conveyance Required; Title to Pass.
Section 2-7-608 - When Conveyance Required; Right of Successor to Enforce.
Section 2-7-609 - When Power Given in Will.
Section 2-7-610 - Equitable Conversion; Effect Thereof.
Section 2-7-611 - When Real Property Deemed Personalty; When Personalty Deemed Real Property.
Section 2-7-613 - Sale of Personalty Without Court Order.
Section 2-7-614 - Petition to Sell; Generally.
Section 2-7-615 - Petition to Sell; Notice and Hearing; Exception; Court Order.
Section 2-7-616 - Sale Subject to Mortgage.
Section 2-7-617 - Extension of Credit in Sales.
Section 2-7-618 - Purchase by Holder of Lien.
Section 2-7-619 - Bond to Prevent Sale; Liability for Breach; Effect of Compliance.
Section 2-7-620 - Collateral Attacks Precluded.
Section 2-7-621 - Order for Sale, Generally.
Section 2-7-622 - Notice of Auction Required.
Section 2-7-623 - Adjournment of Sale.
Section 2-7-624 - Verified Report Required; Confirmation of Sale, by Court; Hearing May Be Ordered.