Article 2. Powers Exercisable Only After Giving Notice Of Proposed Action of California Probate Code >> Division 7. >> Part 6. >> Chapter 3. >> Article 2.

The personal representative may exercise the powers described in this article only if the requirements of Chapter 4 (commencing with Section 10580) (notice of proposed action procedure) are satisfied.

The personal representative who has full authority has the power to sell or exchange real property of the estate.

The personal representative has the power to sell or incorporate any of the following:
  (a) An unincorporated business or venture in which the decedent was engaged at the time of the decedent's death.
  (b) An unincorporated business or venture which was wholly or partly owned by the decedent at the time of the decedent's death.

The personal representative has the power to abandon tangible personal property where the cost of collecting, maintaining, and safeguarding the property would exceed its fair market value.

(a) Subject to subdivision (b), the personal representative has the following powers:
  (1) The power to borrow.
  (2) The power to place, replace, renew, or extend any encumbrance upon any property of the estate.
  (b) Only a personal representative who has full authority has the power to borrow money with the loan secured by an encumbrance upon real property.

The personal representative who has full authority has the power to grant an option to purchase real property of the estate for a period within or beyond the period of administration.

If the will gives a person the option to purchase real or personal property and the person has complied with the terms and conditions stated in the will, the personal representative has the power to convey or transfer the property to the person.

The personal representative has the power to convey or transfer real or personal property to complete a contract entered into by the decedent to convey or transfer the property.

The personal representative has the power to allow, compromise, or settle any of the following:
  (a) A third-party claim to real or personal property if the decedent died in possession of, or holding title to, the property.
  (b) The decedent's claim to real or personal property title to or possession of which is held by another.

The personal representative has the power to make a disclaimer.

If the time for filing claims has expired and it appears that the distribution may be made without loss to creditors or injury to the estate or any interested person, the personal representative has the power to make preliminary distributions of the following:
  (a) Income received during administration to the persons entitled under Chapter 8 (commencing with Section 12000) of Part 10.
  (b) Household furniture and furnishings, motor vehicles, clothing, jewelry, and other tangible articles of a personal nature to the persons entitled to the property under the decedent's will, not to exceed an aggregate fair market value to all persons of fifty thousand dollars ($50,000) computed cumulatively through the date of distribution. Fair market value shall be determined on the basis of the inventory and appraisal.
  (c) Cash to general pecuniary devisees entitled to it under the decedent's will, not to exceed ten thousand dollars ($10,000) to any one person.