Maryland Code, ESTATES AND TRUSTS 4-406
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Terms Used In Maryland Code, ESTATES AND TRUSTS 4-406
- Legacy: A gift of property made by will.
- Legatee: A beneficiary of a decedent
- Lien: A claim against real or personal property in satisfaction of a debt.
(a) Unless a contrary intent is expressly indicated in the will, a legacy of specific property shall pass subject to a security interest, lien, or renewal, extension, or refinancing of a security interest or lien on the property that existed at the time of execution of the will.
(b) If a security interest or lien is created or attaches initially after the execution of the will, the legatee is entitled to exoneration.