633.278 Devise of encumbered property.
86 words·~1 min read·
/ia/chapter-633-probate-code/633-278A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When any property subject to a mortgage, other lien or security interest, is specifically devised, the devisee shall take such property so devised subject to such mortgage, other lien or security interest, unless the will provides expressly or by necessary implication that such mortgage, other lien or security interest be otherwise paid. If there is a testamentary direction to discharge such mortgage, other lien or security interest, the rules of abatement specified in section 633.436 shall be applied.
[C66, 71, 73, 75, 77, 79, 81, §633.278]