Authorization by order of court is required for a compromise or settlement of a matter when the transaction requires the transfer or encumbrance of property of the estate, or the creation of an unsecured liability of the estate, or both, in an amount or value in excess of twenty-five thousand dollars ($25,000).
Cal. Prob. Code § 9833
Compromise of Claims and Actions; Extension, Renewal, or Modification of Obligations
Enacted by Stats. 1990, Ch. 79.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.