Missouri Revised Statutes













Chapter 474

Probate Code--Intestate Succession and Wills

←474.440

Section 474.450.1

474.455→

August 28, 2015

Encumbrance does not revoke devise--exoneration, when.

474.450. 1. A charge or encumbrance upon any real or personal property,

for the purpose of securing the payment of money or the performance of any

covenant or agreement, is not deemed a revocation of any will, relating to

the same property, previously executed.



2. When any property is specifically devised and at the time of the

testator's death is subject to a mortgage, pledge, or other lien created

prior to the execution of the will or created by a mortgage, pledge, or other

lien executed after the execution of the will as a renewal, or extension, or

refinancing of the debt created prior to the execution of the will, the

devisee shall take the property so devised subject to the charge or

encumbrance unless the will provides expressly or by necessary implication

that such mortgage be otherwise paid, but if the mortgage, pledge or other

lien was created after the execution of the will the devisee shall take the

property exonerated from the encumbrance unless it appears from the terms of

the loan agreement or from the circumstances surrounding the loan transaction

that the testator intended that the encumbrance should be paid out of the

encumbered property rather than from his general estate.



(RSMo 1939 § 524, A.L. 1955 p. 385 § 274)



Prior revisions: 1929 § 523; 1919 § 512; 1909 § 542



CROSS REFERENCE:



Redemption of encumbered property, 473.287, 473.387







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