(

a) Subject to subdivision (b), a person to whom property is distributed is personally liable for the claim of a creditor, without a claim first having been filed, if all of the following conditions are satisfied:

(1) The identity of the creditor was known to, or reasonably ascertainable by, a general personal representative within four months after the date letters were first issued to the personal representative, and the claim of the creditor was not merely conjectural.

(2) Notice of administration of the estate was not given to the creditor under

Chapter 2 (commencing with

Section 9050) and neither the creditor nor the attorney representing the creditor in the matter had actual knowledge of the administration of the estate before the time the court made an order for final distribution of the property.

(3) The statute of limitations applicable to the claim under

Section of the Code of Civil Procedure has not expired at the time of commencement of an action under this section. (

b) Personal liability under this

section is applicable only to the extent the claim of the creditor cannot be satisfied out of the decedent and is limited to the extent of the fair market value of the property on the date of the order for distribution, less the amount of any liens and encumbrances on the property at that time. Personal liability under this

section is joint and several, based on the principles stated in

Part 4 (commencing with

Section 21400) of Division 11 (abatement). (

c) Nothing in this

section affects the rights of a purchaser or encumbrancer of property in good faith and for value from a person who is personally liable under this section.