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Laws Of Agency Fiduciary DutiesAgency_and_fiduciary_dutiesEASY

When the administrator of an estate sells a parcel:

Correct Answer

C) court approval is required.

California Probate Code §10308 requires that sales of real property by an estate administrator receive court confirmation unless the administrator has been granted 'full authority' under the Independent Administration of Estates Act (IAEA, Probate Code §10400 et seq.). In a standard probate sale, the court holds a confirmation hearing where other buyers may overbid, ensuring the estate receives fair market value. This judicial oversight is the defining characteristic of probate real estate sales in California.

Answer Options
A
it needs to be sold at public auction.
B
it can only be sold “as is.”
C
court approval is required.
D
the sale cannot legally involve a real estate broker.
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Related Topics & Key Terms

Related Topics:

probate-real-estate-salesfiduciary-duties-in-real-estateproperty-disclosure-requirementsforeclosure-procedures

Key Terms:

probate salecourt confirmationCalifornia Probate Codeestate administratorIndependent Administration of Estates Act
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