Terms Used In Maine Revised Statutes Title 14 Sec. 6102

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • lands: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 15 Sec. 225
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.

Lands mortgaged to secure the payment of debts or the performance of any collateral engagement, and the debts so secured are, on the death of the mortgagee or person claiming under him, assets in the hands of his executors or administrators. They shall have the control of them as of a personal pledge. When they recover seizin and possession thereof, it shall be for the use of the widow and heirs, or devisees or creditors of the deceased, as the case may be. When redeemed, they may receive the money, and give effectual discharges therefor, and releases of the mortgaged premises.