FIRST NAT. BANK OF COFFEYVILLE v. MAYS

No. 62147.

708 P.2d 1129 (1985)

FIRST NATIONAL BANK OF COFFEYVILLE, KANSAS, Appellant, v. Barbara MAYS, Executrix of the Estate of Boyd J.L. Apperson, Deceased and the Oklahoma Tax Commissioners, Appellees.

Supreme Court of Oklahoma.

November 5, 1985.


Attorney(s) appearing for the Case

Dennis J. Watson, Wallace & Owens, Inc., Miami, for appellant.

Donald K. Switzer, Logan, Lowry, Johnston, Switzer, West & Wyatt, Vinita, for appellees.


KAUGER, Justice.

The question presented is whether payment of the necessary costs of administration of a decedent's insolvent estate has priority over extinguishment of mortgage indebtedness following the sale of mortgaged property. We find that a secured mortgage takes precedence over administrative expenses, and that only the excess proceeds from the sale of the property can be considered as assets of the estate for administrative purposes.

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