§ 10501. — 10501. (Amended by Stats. 1992, Ch. 178, Sec. 37.)

California § 10501.

• Jurisdiction: California
• Code PROB: Probate Code - PROB
• Div. 7.: DIVISION 7. ADMINISTRATION OF ESTATES OF DECEDENTS
• Part 6.: PART 6. INDEPENDENT ADMINISTRATION OF ESTATES
• Ch. 3.: CHAPTER 3. Administration Under Independent Administration Authority
• Art. 1.: ARTICLE 1. General Provisions

Text

(a)
Notwithstanding any other provision of this part, whether the personal representative has been granted full authority or limited authority, a personal representative who has obtained authority to administer the estate under this part is required to obtain court supervision, in the manner provided in this code, for any of the following actions:
(1)
Allowance of the personal representative’s compensation.
(2)
Allowance of compensation of the attorney for the personal representative.
(3)
Settlement of accounts.
(4)
Subject to Section 10520, preliminary and final distributions and discharge.
(5)
Sale of property of the estate to the personal representative or to the attorney for the personal representative.
(6)
Exchange of property of the estate for property of the personal representative or for property of the attorney for the personal representative.
(7)
Grant of an option to purchase property of the estate to the personal representative or to the attorney for the personal representative.
(8)
Allowance, payment, or compromise of a claim of the personal representative, or the attorney for the personal representative, against the estate.
(9)
Compromise or settlement of a claim, action, or proceeding by the estate against the personal representative or against the attorney for the personal representative.
(10)
Extension, renewal, or modification of the terms of a debt or other obligation of the personal representative, or the attorney for the personal representative, owing to or in favor of the decedent or the estate.
(b)
Notwithstanding any other provision of this part, a personal representative who has obtained only limited authority to administer the estate under this part is required to obtain court supervision, in the manner provided in this code, for any of the following actions:
(1)
Sale of real property.
(2)
Exchange of real property.
(3)
Grant of an option to purchase real property.
(4)
Borrowing money with the loan secured by an encumbrance upon real property.
(c)
Paragraphs (5) to (10), inclusive, of subdivision (a) do not apply to a transaction between the personal representative as such and the personal representative as an individual where all of the following requirements are satisfied:
(1)
Either (A) the personal representative is the sole beneficiary of the estate or (B) all the known heirs or devisees have consented to the transaction.
(2)
The period for filing creditor claims has expired.
(3)
No request for special notice is on file or all persons who filed a request for special notice have consented to the transaction.
(4)
The claim of each creditor who filed a claim has been paid, settled, or withdrawn, or the creditor has consented to the transaction.

Legislative History

Amended by Stats. 1992, Ch. 178, Sec. 37. Effective January 1, 1993.