(a) Title to the following personal property passes upon sale without the need for court confirmation or approval:
(1) Personal property which is perishable, which will depreciate in value if not disposed of promptly, or which will incur loss or expense by being kept.
(2) Personal property the sale of which is necessary to provide for the payment of a family allowance pending receipt of other sufficient funds.
(b) Title to personal property sold at public auction passes without the need for court confirmation or approval upon receipt of the purchase price and:
(1) In the case of tangible personal property, the delivery of the property to the purchaser.
(2) In the case of intangible personal property, the delivery to the purchaser of the instrument that transfers the title to the property to the purchaser.
(c) The personal representative is responsible for the actual value of the property described in subdivision (a) or (b) unless the sale is reported to and approved by the court.
(Enacted by Stats. 1990, Ch. 79.)