SECTIONS 9880-9885 - California Statutes

PROBATE CODE

SECTION 9880-9885

9880. Except as provided in this chapter, neither the personal
representative nor the personal representative's attorney may do any
of the following:
(a) Purchase any property of the estate or any claim against the
estate, directly or indirectly.
(b) Be interested in any such purchase.

9881. Upon a petition filed under Section 9883, the court may make
an order under this section authorizing the personal representative
or the personal representative's attorney to purchase property of the
estate if all of the following requirements are satisfied:
(a) Written consent to the purchase is signed by (1) each known
heir whose interest in the estate would be affected by the proposed
purchase and (2) each known devisee whose interest in the estate
would be affected by the proposed purchase.
(b) The written consents are filed with the court.
(c) The purchase is shown to be to the advantage of the estate.

9882. Upon a petition filed under Section 9883, the court may make
an order under this section authorizing the personal representative
or the personal representative's attorney to purchase property of the
estate if the will of the decedent authorizes the personal
representative or the personal representative's attorney to purchase
the property.

9883. (a) The personal representative may file a petition
requesting that the court make an order under Section 9881 or 9882.
The petition shall set forth the facts upon which the request for the
order is based.
(b) If court confirmation of the sale is required, the court may
make its order under Section 9881 or 9882 at the time of the
confirmation.
(c) Notice of the hearing on the petition shall be given as
provided in Section 1220 to all of the following persons:
(1) Each person listed in Section 1220.
(2) Each known heir whose interest in the estate would be affected
by the proposed purchase.
(3) Each known devisee whose interest in the estate would be
affected by the proposed purchase.
(d) If the court is satisfied that the purchase should be
authorized, the court shall make an order authorizing the purchase
upon the terms and conditions specified in the order, and the
personal representative may execute a conveyance or transfer
according to the terms of the order. Unless otherwise provided in the
will or in the order of the court, the sale of the property shall be
made in the same manner as the sale of other estate property of the
same nature.

9884. This chapter does not prohibit the purchase of property of
the estate by the personal representative or the personal
representative's attorney pursuant to a contract in writing made
during the lifetime of the decedent if the contract is one that can
be specifically enforced and the requirements of Part 19 (commencing
with Section 850) of Division 2 are satisfied.

9885. This chapter does not prevent the exercise by the personal
representative or the personal representative's attorney of an option
to purchase property of the estate given in the will of the decedent
if the requirements of Chapter 17 (commencing with Section 9980) are
satisfied.