Section 9800 Of Chapter 7. Borrowing, Refinancing, And Encumbering Property From California Probate Code >> Division 7. >> Part 5. >> Chapter 7.
9800
. (a) Subject to subdivision (c), after authorization by order
of court obtained under this chapter upon a showing that it would be
to the advantage of the estate, the personal representative may
borrow money on a note, either unsecured or to be secured by a
security interest or other lien on the personal property of the
estate, or any part thereof, or to be secured by a mortgage or deed
of trust on the real property of the estate, or any part thereof, and
may give a security interest or other lien on the personal property
of the estate, or any part thereof, or a mortgage or deed of trust on
the real property of the estate, or any part thereof, in order to do
any one or more of the following:
(1) Pay the debts of the decedent or the estate, devises, expenses
of administration, and charges against the estate.
(2) Pay, reduce, extend, or renew a security interest or lien or
mortgage or deed of trust already existing on property of the estate.
(3) Improve, use, operate, or preserve property in the estate.
(b) The personal representative shall apply the money to the
purpose specified in the order.
(c) Where the surviving spouse has elected to have his or her
share of the community real property administered in the decedent's
estate, the personal representative is authorized to borrow money to
be secured by a mortgage or deed of trust on the community real
property of the estate, or any part thereof, only with the written
consent of the surviving spouse.