California Probate Code

§ 10311

PROB § 10311Div. 7 · Part 5 · Ch. 18 · Art. 6

Statute text

(a)Subject to subdivisions (b), (c), (d), and (e), and except as provided in Section 10207, if a written offer to purchase the real property is made to the court at the hearing on the petition for confirmation of the sale, the court shall accept the offer and confirm the sale to the offeror if all of the following conditions are satisfied:

(1)The offer is for an amount at least 10 percent more on the first ten thousand dollars ($10,000) of the original bid and 5 percent more on the amount of the original bid in excess of ten thousand dollars ($10,000).

(2)The offer is made by a responsible person.

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Legislative history

Enacted by Stats. 1990, Ch. 79.