California Probate Code 7661 – A public administrator acting under authority of this article …
A public administrator acting under authority of this article may:
(a) Withdraw money or take possession of any other property of the decedent that is in the possession or control of a financial institution, government or private agency, retirement fund administrator, insurance company, licensed securities dealer, or other person.
Terms Used In California Probate Code 7661
- Appraisal: A determination of property value.
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Financial institution: means a state or national bank, state or federal savings and loan association or credit union, or like organization. See California Probate Code 40
- Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
- Personal property: All property that is not real property.
- Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: includes a leasehold interest in real property. See California Probate Code 68
(b) Collect any debts owed to the decedent, including, but not limited to, any rents, issues, or profits from the real and personal property in the estate until the estate is distributed.
(c) Sell any personal property of the decedent, including, but not limited to, stocks, bonds, mutual funds and other types of securities. Sales may be made with or without notice, as the public administrator elects. Title to the property sold passes without the need for confirmation by the court.
(d) Sell any real property of the decedent. The sale shall be accomplished through one of the following procedures:
(1) The sale may be conducted subject to Article 6 (commencing with Section 10300) of Chapter 18 of Part 5.
(2) With approval specified in the original court order for summary disposition of the estate, the sale of real property may be accomplished using a Notice of Proposed Action according to the following requirements:
(A) The publication of the sale shall be accomplished according to Sections 10300 to 10307, inclusive.
(B) The appraisal of the property and determination of the minimum sale price of 90 percent of the appraised value shall be accomplished according to Section 10309.
(C) If an offer meets the approval of the public administrator and the offered price is at least 90 percent of the appraised value, a notice of proposed action shall be made according to Sections 10581 to 10588, inclusive. If objection is not made to the notice of proposed action, the sale may be completed without a court confirmation of the sale. The sale may be consummated by recording a public administrator’s deed and a copy of the court order for summary disposition that authorized the use of the notice of proposed action.
(D) If an objection to the notice of proposed action is made pursuant to Section 10587, the sale shall be confirmed in court according to Sections 10308 to 10316, inclusive. The sale may be consummated by recording an administrator’s deed and a copy of the court order confirming the sale.
(E) If objection to the notice of proposed action is not made under Section 10587, the public administrator may still elect to have the sale confirmed in court according to Sections 10308 to 10316, inclusive, if the public administrator deems that is in the best interest of the estate. Title to the property sold passes with the public administrator’s deed.
(Amended by Stats. 2004, Ch. 888, Sec. 8. Effective January 1, 2005.)