Section 5674 Of Article 3. Creditors From California Probate Code >> Division 5. >> Part 4. >> Chapter 3. >> Article 3.
5674
. (a) A beneficiary is not liable under Section 5672 if
proceedings for the administration of the transferor's estate are
commenced and the beneficiary satisfies the requirements of Section
5676.
(b) The aggregate of the personal liability of a beneficiary under
Section 5672 shall not exceed the sum of the following:
(1) The fair market value at the time of the transferor's death of
the property received by the beneficiary pursuant to the revocable
transfer on death deed, less the amount of any liens and encumbrances
on the property at that time.
(2) The net income the beneficiary received from the property.
(3) If the property has been disposed of, interest on the fair
market value of the property from the date of disposition at the rate
payable on a money judgment. For the purposes of this paragraph,
"fair market value of the property" has the same meaning as defined
in paragraph (2) of subdivision (a) of Section 5676.