§ 10206. — 10206. (Enacted by Stats. 1990, Ch. 79.)

California § 10206.

• Jurisdiction: California
• Code PROB: Probate Code - PROB
• Div. 7.: DIVISION 7. ADMINISTRATION OF ESTATES OF DECEDENTS
• Part 5.: PART 5. ESTATE MANAGEMENT
• Ch. 18.: CHAPTER 18. Sales
• Art. 4.: ARTICLE 4. Special Provisions Applicable to Particular Types of Property

Text

(a)
Except as otherwise provided in this section, if the decedent at the time of death was possessed of a contract for the purchase of real property and the decedent’s interest in the property and under the contract is to be sold, the sale shall be made as in the case of the sale of real property of the estate.
(b)
If the decedent’s interest in the property and under the contract is sold, the sale shall be made subject to all payments which are due at the time of sale or which may thereafter become due on the contract. Except as provided in subdivision (d), if there are any payments due or to become due, the court shall not confirm the sale until the purchaser executes a bond to the personal representative that satisfies the requirements of subdivision (c).
(c)
The bond shall be for the benefit and indemnity of the personal representative and the persons entitled to the interest of the decedent in the real property contracted for. The amount of the bond shall be equal to the amount of payments then due and thereafter to become due on the contract, with such sureties as the court may approve. The bond shall be conditioned that the purchaser will (1) make all payments for the property which are then due or which become due after the date of the sale and (2) fully indemnify the personal representative and the person entitled to the interest of the decedent against all demands, costs, charges, and expenses, by reason of any covenant or agreement contained in the contract.
(d)
The bond need not be given in either of the following cases:
(1)
Where no claim has been made against the estate on the contract and the time for filing claims has expired.
(2)
Where the person entitled to payment under the contract waives all recourse to the assets of the estate for payment and releases the estate and the personal representative from liability for payment.

Legislative History

Enacted by Stats. 1990, Ch. 79.