Chapter 12. Purchase Of Claims Or Estate Property By Personal Representative Or Personal Representative’s Attorney of California Probate Code >> Division 7. >> Part 5. >> Chapter 12.

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.

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.

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.

(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.

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.

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.