2005 California Code of Civil Procedure Sections 1370-1382 Article 3. Sale or Disposal of Property

1370.  The Controller, with the prior approval of the State Board of
Control, may sell or lease personal property at any time, and in any
manner, and may execute such leases on behalf and in the name of the
State of California.
1371.  The Controller, with the prior approval of the State Board of
Control, may sell, cash, redeem, exchange, or otherwise dispose of
any securities and all other classes of personal property, and may
sell, cash, redeem, exchange, compromise, adjust, settle, or
otherwise dispose of any accounts, debts, contractual rights, or
other choses in action whenever, in his opinion, such action on his
part is necessary or will tend to safeguard and conserve the
interests of all parties, including the State, having any vested or
expectant interest in the property.
1372.  The Controller may sign, endorse, or otherwise authenticate,
in the name and on behalf of the State, subscribing his name, as
Controller, under such writing, any securities, bills of sale,
documents, or other instruments required, under customary business
practice, for the consummation of the transactions authorized by this
chapter.  For all purposes, such endorsement is conclusive and
binding against the State and the heirs, devisees, legatees, or other
claimants of the property covered by such endorsement.
1373.  The Controller may lease or sell any real property for cash
at public auction to the highest bidder.
   Before such sale or lease, notice thereof shall be published
pursuant to Government Code Section 6063 in a newspaper published in
the county in which the real property is situated, or in an adjoining
county, if there is no newspaper published in such county.  The
notice is sufficient for all the purposes of such lease or sale if
the real property is described sufficiently to identify it.  The cost
of publication shall be a charge against the proceeds of the lease
or sale, or, if the lease or sale is not consummated, such cost shall
be a legal charge against the appropriation for official
advertising.
   If the value of the property to be sold does not appear to exceed
one thousand dollars ($1,000) in the determination of the Controller,
notice of sale thereof may be published pursuant to Government Code
Section 6061.
1374.  The Controller may reject any and all bids made at sales or
public auctions held under the provisions of this chapter.
1375.  With the approval of the State Board of Control, any real
property may be sold or leased by the Controller at private sale
without published notice.
1376.  Upon receipt of the proceeds of any sale made pursuant to
this chapter, the Controller shall execute, in the name and on behalf
of the State of California, a deed covering the real property, and a
bill of sale covering the personal property, sold.  He may execute
leases for real or personal property in the name and on behalf of the
State of California.
1377.  The Controller shall not enter into any transaction which
shall create or impose upon the owners, heirs, devisees, legatees, or
other claimants of the property involved, any obligation under an
executory contract, the performance of which is not already an
obligation of such owners, heirs, devisees, legatees, or other
claimants prior to the consummation of the transactions authorized by
this chapter.
1378.  No suit shall be maintained by any person against the State
or any officer thereof, for or on account of any transaction entered
into by the Controller pursuant to this chapter.
1379.  With the prior approval of the State Board of Control, the
Controller may destroy or otherwise dispose of any personal property
other than cash deposited in the State Treasury under the provisions
of this title, if such property is determined by him to be valueless
or of such little value that the costs of conducting a sale would
probably exceed the amount that would be realized therefrom; and
neither the Treasurer nor Controller shall be held to respond in
damages at the suit of any person claiming loss by reason of such
destruction or disposition.
1380.  All sales, exchanges, or other transactions entered into by
the Controller pursuant to this chapter are exempt from the
provisions of Section 11009 of the Government Code.
1381.  All sales, leases or other transactions entered into by the
Controller pursuant to this chapter shall be conclusive against
everyone, except a purchaser or encumbrancer who in good faith and
for a valuable consideration acquires a title or interest by an
instrument in writing that is first duly recorded.
1382.  Any provision of this article which authorizes the Controller
to sell real property applies to any real property distributed or
escheated to, or the title to which has vested in, the State of
California by court order or decree of distribution, if such real
property is held in the name of the Unclaimed Property Fund under the
provision of this title, whether or not such real property has
permanently escheated to the State.
   This section does not apply to the disposition of tax-deeded lands
under Chapter 7, 8 or 9 of Part 6 of Division 1 of the Revenue and
Taxation Code.