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This entry was published on 2014-09-22
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SECTION 10-10.4
Power to lease in tenant for life; effect of mortgage
Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 10, PART 10
§ 10-10.4 Power to lease in tenant for life; effect of mortgage

(a) The power of a tenant for life to make leases is neither
extinguished nor suspended when such tenant executes a mortgage. The
power is bound by the mortgage in the same manner as the real property
embraced therein, and the lien of the mortgagee on such power:

(1) Entitles the mortgagee to an exercise of the power so far as the
satisfaction of the debt requires; and

(2) Causes any subsequent interest, created by the tenant for life by
an exercise of such power, to become subject to the mortgage as if in
terms embraced therein.