A succession representative may sell bonds and shares of stock at private sale at rates prevailing in the open market, by obtaining a court order authorizing the sale. No advertisement is necessary, and the order authorizing the sale may be rendered upon the filing of the petition. The endorsement of the succession representative and a certified copy of the court order authorizing the sale shall be sufficient warrant for the transfer.
Art. 3285.Bonds and Stocks
Book VI. Probate Procedure · Title III. Administration of Successions · Chapter 6. Alienation of Succession Property · Amendment history unavailable · Last verified July 30, 2026
In one sentenceArticle 3285 lets a succession representative sell bonds and shares of stock at private sale at prevailing market rates by obtaining a court order on the petition alone, without advertisement, and makes the representative's endorsement together with a certified copy of that order sufficient to transfer the securities.
Full Text of Art. 3285
Plain-English Summary
Bonds and stocks trade in an active market with a publicly known price, and Article 3285 lets the sale process reflect that. A succession representative can sell securities at private sale at whatever rate the market is offering, without the publication Article 3282 requires for most private sales of succession property.
The procedure is fast by design. The representative files a petition, and the court can authorize the sale on that filing alone -- no advertisement, no waiting period, no separate hearing built into the article. That speed matters for securities, whose value can shift with the market while a slower approval process runs its course.
Once the order issues, transferring the securities is equally direct. The representative's endorsement, paired with a certified copy of the court's order, is enough to warrant the transfer -- the buyer or the transfer agent does not need anything more to recognize the sale as valid.
Frequently Asked Questions
Does a private sale of succession-owned stock require published notice?
No. Article 3285 dispenses with advertisement for a sale of bonds and shares of stock, unlike the publication Article 3282 requires for most private sales.
How quickly can a court authorize the sale of succession-owned securities?
The court may render the order authorizing the sale upon the filing of the petition itself, without a separate hearing built into Article 3285.
What completes the transfer of stock sold under Article 3285?
The succession representative's endorsement together with a certified copy of the court order authorizing the sale is sufficient warrant for the transfer.
At what price can bonds and stocks be sold under this article?
At rates prevailing in the open market, reflecting the fact that securities trade at a known, current price rather than needing an appraisal like other succession property.
Source & verification. Article text is reproduced verbatim from
the Louisiana Code of Civil Procedure (legis.la.gov). Enacted by the Louisiana Legislature.
Last verified July 30, 2026.
· Official source
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