2570. (a) The guardian or conservator, after authorization by order
of the court, may invest the proceeds of sales and any other money
of the estate as provided in the order.
(b) To obtain an order of the court authorizing a transaction
under subdivision (a) of this section, the guardian or conservator,
the ward or conservatee, or any other interested person may file a
petition with the court.
(c) Notice of the hearing on the petition shall be given for the
period and in the manner provided in Chapter 3 (commencing with
Section 1460) of Part 1. The court may order that the notice be
(d) The court may require such proof of the fairness and
feasibility of the transaction as the court determines is necessary.
(e) If the required showing is made, the court may make an order
authorizing the transaction and may prescribe in the order the terms
and conditions upon which the transaction shall be made.
2571. When authorized by order of the court under Section 2570, the
guardian or conservator may purchase:
(a) Real property in this state as a home for the ward or
conservatee if such purchase is for the advantage, benefit, and best
interest of the ward or conservatee.
(b) Real property as a home for those legally entitled to support
and maintenance from the ward or conservatee if such purchase is for
the advantage, benefit, and best interest of the ward or conservatee
and of those legally entitled to support and maintenance from the
ward or conservatee.
2572. An order authorizing the guardian or conservator to purchase
real property may authorize the guardian or conservator to join with
the spouse of the ward or the spouse or domestic partner of the
conservatee or with any other person or persons in the purchase of
the real property, or an interest, equity, or estate therein, in
severalty, in common, in community, or in joint tenancy, for cash or
upon a credit or for part cash and part credit. When the court
authorizes the purchase of real property, the court may order the
guardian or conservator to execute all necessary instruments and
commitments to complete the transaction.
2573. An order authorizing investment in bonds issued by any state
or of any city, county, city and county, political subdivision,
public corporation, district, or special district of any state may
authorize the guardian or conservator to select from among bonds
issued by any such issuer, without specifying any particular issuer
or issue of bonds, if the type of issuer is designated in general
terms and the order specifies as to such bonds a minimum quality
rating as shown in a recognized investment service, a minimum
interest coupon rate, a minimum yield to maturity, and the date of
maturity within a five-year range.
2574. (a) Subject to subdivision (b), the guardian or conservator,
without authorization of the court, may invest funds of the estate
pursuant to this section in:
(1) Direct obligations of the United States, or of the State of
California, maturing not later than five years from the date of
making the investment.
(2) United States Treasury bonds redeemable at par value on the
death of the holder for payment of federal estate taxes, regardless
of maturity date.
(3) Securities listed on an established stock or bond exchange in
the United States which are purchased on such exchange.
(4) Eligible securities for the investment of surplus state moneys
as provided for in Section 16430 of the Government Code.
(5) An interest in a money market mutual fund registered under the
Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1, et seq.) or an
investment vehicle authorized for the collective investment of trust
funds pursuant to Section 9.18 of Part 9 of Title 12 of the Code of
Federal Regulations, the portfolios of which are limited to United
States government obligations maturing not later than five years from
the date of investment and to repurchase agreements fully
collateralized by United States government obligations.
(6) Units of a common trust fund described in Section 1564 of the
Financial Code. The common trust fund shall have as its objective
investment primarily in short-term fixed income obligations and shall
be permitted to value investments at cost pursuant to regulations of
the appropriate regulatory authority.
(b) In making and retaining investments made under this section,
the guardian or conservator shall take into consideration the
circumstances of the estate, indicated cash needs, and, if reasonably
ascertainable, the date of the prospective termination of the
guardianship or conservatorship.
(c) Nothing in this section limits the authority of the guardian
or conservator to seek court authorization for any investment, or to
make other investments with court authorization, as provided in this