California Probate Code

§ 13206

PROB § 13206 Effective Jan 1, 2023Div. 8 · Part 1 · Ch. 5

Statute text

(a)If property is transferred to a transferee under this chapter, and the decedent’s personal representative later determines that another person has a superior right to the property by testate or intestate succession from the decedent, the personal representative may request that the transferred property be restored to the estate. Subject to subdivisions (b), (c), (d), (e), and (g) if the personal representative makes that request, the transferee is liable for all of the following:

(1)If the transferee still has the transferred property, restitution of the transferred property to the decedent’s estate.

(2)If the transferee no longer has the transferred property, restitution to the decedent’s estate of the fair market value of the transferred property plus interest from the date of disposition at the rate of 7 percent per annum on the fair market value of the transferred property. For the purposes of this paragraph, the “fair market value of the transferred property” is the fair market value of the transferred property, determined as of the time of the disposition of the transferred property, less the amount of any liens and encumbrances on the transferred property at the time the certified copy of the affidavit was issued.

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Legislative history

Repealed and added by Stats. 2022, Ch. 29, Sec. 20. (AB 1716) Effective January 1, 2023.