(a) The court may order securities listed on an established stock or bond exchange, and personal property that is perishable, that will depreciate in value if not promptly disposed of, or that will incur loss or expense by being kept, to be sold upon such notice and conditions as may be appropriate.
§ 873.660.Sale of Securities and Perishable Property
Title 10.5. Partition of Real and Personal Property · Chapter 6. Sale of the Property · Article 2. Sales Procedures · Enacted 1976 · no amendments on record · Last verified July 28, 2026
In one sentenceSection 873.660 lets the court order listed securities and perishable or depreciating personal property sold on whatever notice and conditions fit the circumstances, and provides that, unless the court orders otherwise, title passes to the buyer without prior court confirmation while the referee remains answerable for the property's actual value until the court later approves the sale.
Full Text of § 873.660
(b) Unless otherwise ordered by the court, title to property sold pursuant to this section passes without court confirmation. The referee is responsible for the actual value of the property until, after return and proper showing, the court approves the sale.
Plain-English Summary
Some property doesn't tolerate the delay of a standard confirmation-first sale. This section responds by giving the court flexibility for securities listed on an established stock or bond exchange, and for personal property that is perishable, will depreciate if not promptly disposed of, or will incur loss or expense by being kept — the court may order this property sold upon whatever notice and conditions are appropriate.
Subdivision (b) then flips the usual sequence. Under §§ 873.720 and 873.730, a sale generally isn't final until the court confirms it after the fact. Here, unless the court orders otherwise, title passes to the buyer without any court confirmation up front, letting the transaction close immediately.
That speed doesn't come without accountability. The referee remains responsible for the property's actual value until, after the referee makes a return and a proper showing, the court approves the sale after the fact — protecting the parties even though confirmation happens after title has already passed.
Frequently Asked Questions
Why does this section treat securities and perishable property differently?
Because delay while following the standard notice and confirmation process could mean lost value or unnecessary expense for this kind of property.
Does title pass to the buyer right away?
Yes, unless the court orders otherwise, title passes without needing court confirmation first.
Is the referee accountable if the sale turns out to be a bad one?
Yes. The referee is responsible for the property's actual value until the court later approves the sale after review.
Amendment History
Added by Stats. 1976, Ch. 73.
Source & verification. Section text is reproduced verbatim from
the Deering's California Codes Annotated / vLex. Enacted by the California Legislature.
Last verified July 28, 2026.
· Official source
Also known as: sale of securities perishable property partition california