When an order for distribution of money or personal property deposited pursuant to this chapter is made, the financial institution, trust company, or securities depository may deliver the property directly to the distributees and shall file receipts therefor with the clerk.

(Enacted by Stats. 1990, Ch. 79.)

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Terms Used In California Probate Code 9704

  • Financial institution: means a state or national bank, state or federal savings and loan association or credit union, or like organization. See California Probate Code 40
  • Personal property: All property that is not real property.
  • Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
  • Trust: includes the following:

    California Probate Code 82

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