Section § 1370

Explanation

This law gives the Controller the authority to sell or lease items that belong to the state at any time and in whatever way seems best. The Controller can handle the paperwork for these transactions in the State of California's name.

The Controller may sell or lease personal property at any time, and in any manner, and may execute those leases on behalf and in the name of the State of California.

Section § 1371

Explanation

This law allows the Controller to manage and dispose of different types of property and financial assets. This includes selling, exchanging, settling debts, or taking other actions that are seen as necessary to protect the interests of everyone involved, including the state's interests.

The Controller 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 if, in his or her opinion, that action on his or her 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.

Section § 1372

Explanation

The Controller has the authority to sign important documents, like securities or bills of sale, on behalf of the State. Once the Controller signs them, these documents are considered legally binding for the State and anyone with a claim to the property involved.

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.

Section § 1373

Explanation

This law allows the Controller to sell or lease real property at a public auction to the highest bidder. Before the sale or lease, a notice must be published in a local newspaper, detailing the property for identification. If there's no newspaper in that county, it can be published in a nearby county. Costs for publishing the notice are deducted from the proceeds of the sale or lease, or it becomes a public expense if no sale or lease happens. For properties valued at $1,000 or less, a simpler notice requirement applies.

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.

Section § 1374

Explanation

This law allows the Controller to refuse any offers made during sales or auctions happening under this chapter's rules, meaning the Controller has the authority to say no to any bid if they choose.

The Controller may reject any and all bids made at sales or public auctions held under the provisions of this chapter.

Section § 1375

Explanation

The Controller can sell or lease real estate privately without having to announce it publicly beforehand.

Any real property may be sold or leased by the Controller at private sale without published notice.

Section § 1376

Explanation

This section explains that when the sale of property is completed, the Controller of California will officially transfer ownership by signing a deed for real estate and a bill of sale for personal items, both on behalf of the state. They can also create lease agreements for these properties if needed.

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.

Section § 1377

Explanation

This law says that the Controller cannot make any deals that would create new obligations for the people who own, inherit, or claim rights to a piece of property, unless those obligations were already in place before the deal was finalized.

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.

Section § 1378

Explanation
You cannot sue the State of California or its officials over any transactions completed by the Controller under the rules of this chapter.
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.

Section § 1379

Explanation

This law says that if the California Controller decides any personal items (not cash) held by the state are worthless or cheaper to throw away than sell, they can get rid of it. The Controller and Treasurer won't be held responsible if someone claims they lost out because of this decision.

The Controller may destroy or otherwise dispose of any personal property other than cash deposited in the State Treasury under this title, if that property is determined by him or her to be valueless or of such little value that the costs of conducting a sale would probably exceed the amount that would be realized from the sale, and neither the Treasurer nor Controller shall be held to respond in damages at the suit of any person claiming loss by reason of that destruction or disposition.

Section § 1380

Explanation

This law states that whenever the Controller conducts sales, trades, or similar transactions under this chapter, they do not have to follow the rules set out in Section 11009 of the Government Code.

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.

Section § 1381

Explanation

This law says that once the Controller sells, leases, or makes any deals regarding property, those deals are final and cannot be disputed by anyone. The only exception is if someone buys or claims an interest in the property in good faith, pays a fair price, and records the purchase or claim first in writing.

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.

Section § 1382

Explanation

This section says that the state of California can sell real property that it has acquired through a court order, as long as the property is held in the Unclaimed Property Fund. However, it does not cover the sale of land that the state obtained because someone didn't pay their taxes.

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.