New Hampshire Revised Statutes 512:29 – Encumbered Property
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Terms Used In New Hampshire Revised Statutes 512:29
- 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.
- Personal property: All property that is not real property.
- Trustee: A person or institution holding and administering property in trust.
If the trustee is adjudged chargeable for any personal property subject to mortgage, pledge or other lien, the court may appoint a receiver to dispose of the same if more can be obtained for it than the claims upon it.