California Probate Code 9981 – (a) Where an option to purchase real or personal property is …
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(a) Where an option to purchase real or personal property is given in a will admitted to probate, the court may make an order under this chapter directing the personal representative to transfer or convey the property to the person given the option upon compliance with the terms and conditions stated in the will.
(b) The personal representative or the person given the option to purchase the property may file a petition for an order pursuant to this chapter.
Terms Used In California Probate Code 9981
- Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
- Personal property: All property that is not real property.
- 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
- Probate: Proving a will
- 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
- Will: includes codicil and any testamentary instrument which merely appoints an executor or revokes or revises another will. See California Probate Code 88
(c) Notice of the hearing on the petition shall be given as provided in Section 1220.
(Enacted by Stats. 1990, Ch. 79.)