California Codes > Probate Code > Division 7 > Part 5 > Chapter 10 – Acceptance of Deed in Lieu of Foreclosure or Trustee’s Sale; Grant of Partial Satisfaction or Partial Reconveyance
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§ 9850 | (a) If it is to the advantage of the estate to accept a deed to … |
§ 9851 | (a) Except as provided in subdivision (c), if it is to the … |
Terms Used In California Codes > Probate Code > Division 7 > Part 5 > Chapter 10 - Acceptance of Deed in Lieu of Foreclosure or Trustee's Sale; Grant of Partial Satisfaction or Partial Reconveyance
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- interested person: includes any of the following:
California Probate Code 48
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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
- Trust: includes the following:
California Probate Code 82
- Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See California Probate Code 84
- Trustee: A person or institution holding and administering property in trust.