Kansas Statutes 59-2320. Same; assignment of proceeds from lease for certain purposes
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Terms Used In Kansas Statutes 59-2320
- Conservator: means an individual or corporation appointed by the court to act on behalf of a conservatee and possessed of some or all of the powers and duties set out in Kan. See Kansas Statutes 77-201
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes an extension of an existing mortgage, subject to the provision of Kan. See Kansas Statutes 59-2301
In its order authorizing the conservator to join with the competent spouse in executing an oil, gas or other mineral lease as provided in the act, the court may, in any proper case, authorize such conservator to join the competent spouse in the execution and delivery of an assignment of the proceeds of such lease to the owner and holder of any mortgage lien upon the homestead, as additional security for the payment of such mortgage lien, and for the application of such proceeds to the payment of the mortgage debt.