Section 10258 Of Article 5. Sale Of Personal Property From California Probate Code >> Division 7. >> Part 5. >> Chapter 18. >> Article 5.
10258
. (a) On petition of the personal representative, the court
may by order authorize a sale of personal property on credit on terms
providing for less than 25 percent of the purchase price to be paid
in cash at the time of sale, or may waive or modify the requirement
that a security interest or other lien shall be retained or taken to
secure payment of the balance of the purchase price, where it is
shown that the terms are to the advantage of the estate and the
property to be sold is of such a nature that it is impracticable to
sell the property for a larger cash payment at the time of sale or to
retain a security interest or other lien in the property. The order
of the court shall fix the terms and conditions of the sale.
(b) Notice of the hearing on the petition shall be posted as
provided in Section 1230 and 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 sale.
(3) Each known devisee whose interest in the estate would be
affected by the sale.