Notice of Hearing; Vacation of Confirmation Order on Default of Purchaser; Resale; Procedure. (a) Except as otherwise provided in Sections 2331, 2333 and 2335(c) of this Title, all sales of the property of an estate shall be reported to the Superior Court and confirmed by the Superior Court before title to the property passes. The report, which may also be referred to as a Areturn@ or as a @return of sale,@ shall be verified. Such report and a petition for confirmation of the same shall be filed in the Superior
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Court within thirty (30) calendar days after each sale of the property of an estate. The Clerk of the Superior Court shall set the petition for hearing, and notice thereof shall be given in the manner provided in Section 3401 of this Title. (b) If, after the confirmation of a sale of the property of an estate by the Superior Court, the purchaser neglects or refuses to comply with the terms of the sale, the Superior Court, on motion of the personal representative and after notice to the purchaser in the manner directed by the Superior Court, may vacate the order of confirmation and order a resale of the property. Notice of such resale shall be given, and pro- ceedings thereafter shall be taken, in the same manner as required by this Chapter for such sale in the first instance. If the amount realized on such resale does not cover the bid and the expenses of the previous sale, the defaulting purchaser at such previous sale is liable to the estate for the deficiency. SOURCE: Subsection (a): California Probate Code, § 755; Guam Law Revision Commission. Subsection (b): California Probate Code, § 775; Probate Code of Guam (1970), § 788. COMMENT: The only substantive change made to § 755 of the Probate Code of Guam (1970) (subsection (a) of § 2315) is the addition of § 2333 to the exceptions to the operation of subsection (a). Subsection (b) of § 2315 brings together all necessary provisions concerning resale upon failure of the purchaser to comply with the terms of the sale. The Probate Code of Guam (1970) contained a similar provision only affecting real property (prior § 788), but there seems to be no reason why one provision should not apply to all species of estate property.