(a) This section applies when distribution from a decedentâs estate is made to a transferee for value who acquires any interest of a beneficiary in exchange for cash or other consideration. (b) For purposes of this section, a transferee for value is a person who satisfies both of the following criteria: (1) The person purchases the interest from a beneficiary for consideration pursuant to a written agreement. (2) The person, directly or indirectly, regularly engages in the purchase of beneficial interests in estates for consideration. (c) This section does not apply to any of the following: (1) A transferee who is a beneficiary of the estate or a person who has a claim to distribution from the estate under another instrument or by intestate succession. (2) A transferee who is either the registered domestic partner of the beneficiary, or is related by blood, marriage, or adoption to the beneficiary or the decedent. (3) A transaction made in conformity with the California Financing Law (Division 9 (commencing with Section 22000) of the Financial Code) and subject to regulation by the Department of Financial Protection and Innovation. (4) A transferee who is engaged in the business of locating missing or unknown heirs and who acquires an interest from a beneficiary solely in exchange for providing information or services associated with locating the heir or beneficiary. (d) A written agreement is effective only if all of the following conditions are met: (1) The executed written agreement is filed with the court not later than 30 days following the date of its execution or, if administration of the decedentâs estate has not commenced, then within 30 days of issuance of the letters of administration or letters testamentary, but in no event later than 15 days prior to the hearing on the petition for final distribution. Prior to filing or serving that written agreement, the transferee for value shall redact any personally identifying information about the beneficiary, other than the name and address of the beneficiary, and any financial information provided by the beneficiary to the transferee for value on the application for cash or other consideration, from the agreement. (2) If the negotiation or discussion between the beneficiary and the transferee for value leading to the execution of the written agreement by the beneficiary was conducted in a language other than English, the beneficiary shall receive the written agreement in English, together with a copy of the agreement translated into the language in which it was negotiated or discussed. The written agreement and the translated copy, if any, shall be provided to the beneficiary. (3) The documents signed by, or provided to, the beneficiary are printed in at least 10-point type. (4) The transferee for value executes a declaration or affidavit attesting that the requirements of this section have been satisfied, and the declaration or affidavit is filed with the court within 30 days of execution of the written agreement or, if administration of the decedentâs estate has not commenced, then within 30 days of issuance of the letters of administration or letters testamentary, but in no event later than 15 days prior to the hearing on the petition for final distribution. (5) Notice of the assignment is served on the personal representative or the attorney of record for the personal representative within 30 days of execution of the written agreement or, if general or special letters of administration or letters testamentary have not been issued, then within 30 days of issuance of the letters of administration or letters testamentary, but in no event later than 15 days before the hearing on the petition for final distribution. (e) The written agreement shall include the following terms, in addition to any other terms: (1) The amount of consideration paid to the beneficiary. (2) A description of the transferred interest. (3) If the written agreement so provides, the amount by whi
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