California Probate Code

§ 10363

PROB § 10363Div. 7 · Part 5 · Ch. 18 · Art. 8

Statute text

(a)At a sale of real or personal property subject to a lien, the lienholder may become the purchaser of the property, even though no claim for the amount secured by the lien on the property sold has been, or could have been, filed, allowed, or approved.

(b)Unless the property is sold subject to the lien:

(1)If the lienholder becomes the purchaser of the property and the amount secured by the lien on the property is a valid claim against the estate and has been allowed or approved, the receipt of the lienholder for the amount due the lienholder from the proceeds of the sale is a payment pro tanto.

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Legislative history

Enacted by Stats. 1990, Ch. 79.