§ 10503. — 10503. (Enacted by Stats. 1990, Ch. 79.)

California § 10503.

• 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

Subject to the limitations and requirements of this part, when the personal representative exercises the authority to sell property of the estate under this part, the personal representative may sell the property either at public auction or private sale, and with or without notice, for such price, for cash or on credit, and upon such terms and conditions as the personal representative may determine, and the requirements applicable to court confirmation of sales of real property (including, but not limited to, publication of notice of sale, court approval of agents’ and brokers’ commissions, sale at not less than 90 percent of appraised value, and court examination into the necessity for the sale, advantage to the estate and benefit to interested persons, and efforts of the personal representative to obtain the highest and best price for the property reasonably attainable), and the requirements applicable to court confirmation of sales of personal property, do not apply to the sale.

Legislative History

Enacted by Stats. 1990, Ch. 79.