SECTIONS 10500-10503 - California Statutes

PROBATE CODE

SECTION 10500-10503

10500. (a) Subject to the limitations and conditions of this part,
a personal representative who has been granted authority to
administer the estate under this part may administer the estate as
provided in this part without court supervision, but in all other
respects the personal representative shall administer the estate in
the same manner as a personal representative who has not been granted
authority to administer the estate under this part.
(b) Notwithstanding subdivision (a), the personal representative
may obtain court supervision as provided in this code of any action
to be taken by the personal representative during administration of
the estate.

10501. (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.

10502. (a) Subject to the conditions and limitations of this part
and to Section 9600, a personal representative who has been granted
authority to administer the estate under this part has the powers
described in Article 2 (commencing with Section 10510), Article 3
(commencing with Section 10530), and Article 4 (commencing with
Section 10550).
(b) The will may restrict the powers that the personal
representative may exercise under this part.

10503. 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.