California § 21118 - If an instrument authorizes a fiduciary to satisfy a pecuniary gift wholly or par
Full text of California Public Contract Code - PCC § 21118 — If an instrument authorizes a fiduciary to satisfy a pecuniary gift wholly or par, with citation guidance and answers to common questions.
§ 21118. If an instrument authorizes a fiduciary to satisfy a pecuniary gift wholly or par
(a) If an instrument authorizes a fiduciary to satisfy a pecuniary gift wholly or partly by distribution of property other than money, property selected for that purpose shall be valued at its fair market value on the date of distribution, unless the instrument expressly provides otherwise. If the instrument permits the fiduciary to value the property selected for distribution as of a date other than the date of distribution, then, unless the instrument expressly provides otherwise, the property selected by the fiduciary for that purpose shall fairly reflect net appreciation and depreciation (occurring between the valuation date and the date of distribution) in all of the assets from which the distribution could have been made. (b) As used in this section, âpecuniary giftâ means a transfer of property made in an instrument that either is expressly stated as a fixed dollar amount or is a dollar amount determinable by the provisions of the instrument.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 21118
What does Public Contract Code - PCC § 21118 cover?
Section 21118 ("If an instrument authorizes a fiduciary to satisfy a pecuniary gift wholly or par") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 21118?
A common citation format is "Public Contract Code - PCC § 21118" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 21118 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.