When something owned by a deceased person's estate has a loan or debt attached to it, the person managing the estate can renew that loan, extend it, or hand over the property to the lender to pay off the debt. This can happen whether or not the lender has officially filed paperwork with the court, as long as it seems like the best thing for the estate.
473.437. Extension or renewal of of . — When any assets of the are by , or other , the may renew or extend any secured by the or or the assets to the in of his lien, in whole or in part, agreement with the of the encumbrance, whether or not the holder of the encumbrance has filed a , if it appears to be for the best interest of the estate.
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Source & history notes
(L. 1955 p. 385 § 162, A.L. 1980 S.B. 637) Effective 1-01-81
Related Missouri laws
Enforcement of judgment, attachment or execution liens which attached prior to decedent's death
RSMo 473.440
Payment of claims not required prior to six months after first publication
RSMo 473.433
Proceedings where real estate has been sold under junior judgment
RSMo 473.443
Payments of claims and statutory allowances in order of classification
RSMo 473.430
Limitations on filing claims
RSMo 473.444
Compromise of claims against estate
RSMo 473.427
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.