Transfer of Property, 8% of the examination
Probate overbid
The court process by which a competing buyer may outbid an accepted offer at a confirmation hearing.
The first overbid must exceed the accepted offer by a statutory minimum, commonly calculated as 10% of the first $10,000 plus 5% of the balance. This is why a buyer of probate property can lose it in the courtroom despite an accepted offer.
Test the distinction
A relevant question from Transfer of Property, selected because its facts or explanation use this concept.
In a probate sale subject to court confirmation, what typically happens at the confirmation hearing?
Written to DRE's published topic list. Not a real examination question, since reproducing those is a misdemeanor under B&P Code section 123.
Primary sources
Use these authorities when a course summary, forum answer, or older flashcard conflicts with the current California rule.