Chapter 14. Exchange Of Property of California Probate Code >> Division 7. >> Part 5. >> Chapter 14.

If it is to the advantage of the estate to exchange property of the estate for other property, the personal representative may, after authorization by order of court obtained under this chapter and upon such terms and conditions as may be prescribed by the court, exchange the property for the other property. The terms and conditions prescribed by the court may include the payment or receipt of part cash by the personal representative.

To obtain an order under this chapter, the personal representative or any interested person shall file a petition containing all of the following:
  (a) A description of the property.
  (b) The terms and conditions of the proposed exchange.
  (c) A showing that the proposed exchange is to the advantage of the estate.

(a) Except as provided in subdivision (b), notice of the hearing on the petition shall be given as provided in Section 1220.
  (b) If the petition is for authorization to exchange securities as defined in Section 10200 for different securities, the court, upon a showing of good cause, may order that the notice be given for a shorter period or that the notice be dispensed with. The order provided by this subdivision may be made ex parte.

No omission, error, or irregularity in the proceedings under this chapter shall impair or invalidate the proceedings or the exchange made pursuant to an order made under this chapter.