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California Law (Last Updated: March 4, 2014) |
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Probate Code - PROB |
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Division 8. DISPOSITION OF ESTATE WITHOUT ADMINISTRATION |
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Part 1. COLLECTION OR TRANSFER OF SMALL ESTATE WITHOUT ADMINISTRATION |
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Chapter 3. Affidavit Procedure for Collection or Transfer of Personal Property |
Section 13112.
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(a) A person to whom payment, delivery, or transfer of the decedent's property has been made under this chapter is not liable under Section 13109 or 13110 if proceedings for the administration of the decedent's estate are commenced in this state, and the person satisfies the requirements of Section 13111.
(b) Except as provided in subdivision (b) of Section 13110, the aggregate of the personal liability of a person under Sections 13109 and 13110 shall not exceed the fair market value, valued as of the time the affidavit or declaration is presented under this chapter, of the property paid, delivered, or transferred to the person under this chapter, less the amount of any liens and encumbrances on that property at that time, together with the net income the person received from the property and, if the property has been disposed of, interest on the fair market value of the property accruing from the date of disposition at the rate payable on a money judgment. For the purposes of this subdivision, "fair market value of the property" has the same meaning as defined in paragraph (2) of subdivision (a) of Section 13111. |