Legal Question in Wills and Trusts in Maryland
If there is a lien against an estate, is there interest due on the amount owed once estate property, such as real estate, is sold?
1 Answer from Attorneys
The answer depends on what type of lien. It is unclear if you mean a lien against an asset like real property owned by the estate (in which case ordinarily interest accumulates based on the underlying debt) or whether you mean a judgment lien (in which case interest accumulates in Maryland at the legal rate of 10% post judgment) or whether you mean simply a claim filed against the estate (in which case ordinarily the claim is for a fixed amount without interest).
In any of the described scenarios the PR can contact the estate's creditor for a payoff amount good through a certain date and that amount should include both principal and interest due.
Keep in mind that this general information may not apply to a specific situation. It may help to seek legal assistance to administer a particular estate.