Section 473.440

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 473

Effective - 01 Jan 1981, see footnote   

  473.440.  Enforcement of judgment, attachment or execution liens which attached prior to decedent's death. — When any real or personal property of an estate is bound by the lien of any judgment, attachment or execution, which attached prior to the death of decedent, the personal representative, when the best interests of the estate require, may obtain the redemption thereof, except that, if the estate is insolvent, the property subject to the lien shall be sold in the manner provided by law for the sale of property for the payment of obligations of the estate.  The proceeds of the sale shall be used first to satisfy and pay the judgment or execution without regard to the classification thereof, except that claims in classes one through seven^* of section 473.397 have precedence over such liens, and the residue, if any, shall be administered as other assets.  If there is more than one judgment, attachment or execution lien, and the estate is insufficient to pay all of them, they shall be paid according to their priority, or, if they are of equal priority, the proceeds shall be applied to the several liens in proportion to their respective amounts.

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(L. 1955 p. 385 § 163, A.L. 1980 S.B. 637)

Effective 1-01-81

*Seventh class was renumbered to eighth class in section 473.397 by S.B. 806, 2018.

CROSS REFERENCES:

Attached property of decedent to be sold only under administration proceedings, 521.450, 521.460

Executions not to issue against executor or administrator, when, 513.075

Executors or administrators not to be summoned as garnishees, when, 525.030