(a) If encumbered property is sold, the purchase money, or so much of the purchase money as is sufficient to pay the amount secured by the lien on the property sold and the expenses of the sale, may be paid to the clerk of the court. Upon the payment being so made, the lien on the property sold ceases.

(b) The clerk of court without delay shall use the money paid to the clerk under this section to pay the expenses of the sale and to pay and satisfy the amount secured by the lien on the property sold. The clerk shall at once return the surplus, if any, to the personal representative unless the court, for good cause shown and after notice to the personal representative, otherwise orders.

will 560x170

Ask a will, trust or estate question, get an answer ASAP!
Thousands of highly rated, verified estate & trust lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In California Probate Code 10362

  • Amount secured by the lien: includes interest and any costs and charges secured by the lien. See California Probate Code 10360
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Encumbered property: means real or personal property that is subject to a lien for a secured debt which is a valid claim against the estate and which has been allowed or approved. See California Probate Code 10360
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Lien: means a mortgage, deed of trust, or other lien. See California Probate Code 10360
  • Personal representative: means executor, administrator, administrator with the will annexed, special administrator, successor personal representative, public administrator acting pursuant to Section 7660, or a person who performs substantially the same function under the law of another jurisdiction governing the person's status. See California Probate Code 58
  • 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

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

  Previous section
Next section  
 Article 8 Contents