SECTIONS 3150-3154 - California Statutes

PROBATE CODE

SECTION 3150-3154

3150. (a) Unless the court for good cause dispenses with the bond,
the court shall require the petitioner to give a bond, in the amount
fixed by the court, conditioned on the duty of the petitioner to
account for and apply the proceeds of the transaction to be received
by the petitioner only as the court may by order direct.
(b) Unless the court for good cause fixes the amount of the bond
in a lesser amount, if given by an admitted surety insurer, the bond
shall be in an amount not less than the value of the personal
property (including cash and any notes) to be received by the
petitioner, as determined by the court.
(c) If the sureties on the bond are personal sureties, the bond
shall be approved by the court and shall be for twice the amount
required for a bond given by an admitted surety insurer.
(d) Section 2328 is applicable to the bond of the petitioner under
this chapter.

3151. (a) The petitioner shall, upon receipt of the consideration
therefor, execute, acknowledge, and deliver any necessary instruments
or documents as directed by the court, setting forth therein that
they are made by authority of the order.
(b) The petitioner shall cause a certified copy of the order to be
recorded in the office of the recorder of each county in which is
located any real property affected by the order or any real property
upon which there is a lien or encumbrance affected by the order.
(c) If a sale is made upon a credit pursuant to the order, the
petitioner shall take the note of the person to whom the sale is made
for the amount of the unpaid balance of the purchase money, with
such security for the payment thereof as the court shall by order
approve. The note shall be made payable to the petitioner or, if the
petition was made by a conservator, to the petitioner as conservator.

3152. A sale, conveyance, assignment, transfer, exchange,
encumbrance, security interest, mortgage, deed of trust, lease,
dedication, release, or relinquishment, and any instrument or
document, made pursuant to the court's order, is as valid and
effectual as if the property affected thereby were the sole and
absolute property of the person making it.

3153. Notes, encumbrances, security interests, mortgages, leases,
or deeds of trust, executed as provided in this chapter by a
petitioning conservator create no personal liability against the
conservator so executing, unless the conservator is one of the
spouses and then only to the extent that personal liability would
have resulted had both spouses had legal capacity for the transaction
and joined in the execution.

3154. (a) If any party to the transaction, other than the
petitioner, does not consummate a transaction authorized by the
court, the court, on application of the petitioner, after such notice
to the parties to the transaction as the court directs, may vacate
the order authorizing the transaction.
(b) If the order authorized the sale or encumbrance of property,
the petitioner may by supplemental petition apply to the court for an
order authorizing any other sale or encumbrance of the property to
the advantage, benefit, or best interests of the spouses or their
estates. The supplemental petition and a notice of the time and place
of the hearing shall be served and mailed as provided in Article 4
(commencing with Section 3130) except that (1) no further citation
shall be issued and (2) a copy of the supplemental petition and a
notice of the time and place of the hearing shall be served upon any
person who has appeared as representative of a nonpetitioning spouse
or upon counsel of record for a nonpetitioning spouse or as the court
may otherwise direct.
(c) If it appears to the court that the other sale or encumbrance
is to the advantage, benefit, or best interests of the spouses or
their estates and that the request in the supplemental petition that
the transaction be authorized should be granted, the court may so
order and may authorize the petitioner to do and perform acts and to
execute and deliver all papers, documents, and instruments necessary
to effectuate the order.