California Probate Code

§ 10257

PROB § 10257Div. 7 · Part 5 · Ch. 18 · Art. 5

Statute text

(a)Personal property may be sold for cash or on credit.

(b)Except as may otherwise be ordered by the court pursuant to Section 10258, if a sale is made on credit, not less than 25 percent of the purchase price shall be paid in cash at the time of sale, and the personal representative shall do one of the following:

(1)Take the note of the purchaser for the balance of the purchase money, with a security interest in the personal propery sold, to secure the payment of the balance.

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Legislative history

Enacted by Stats. 1990, Ch. 79.