Arkansas § 18-14-602 Protection of purchasers from subsequent underlying lien

Arkansas Statutes

§ 18-14-602 — Protection of purchasers from subsequent underlying lien

Arkansas § 18-14-602

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This text of Arkansas § 18-14-602 (Protection of purchasers from subsequent underlying lien) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 18-14-602 (2026).

Text

The developer whose project is subjected to an underlying blanket lien or encumbrance subsequent to the transfer of a time-share interest shall protect nondefaulting purchasers from foreclosure by:

(1)Obtaining from the lienholder a nondisturbance clause, subordination agreement, or partial release of the lien for those time-share interests sold; or (2) Providing a surety bond or insurance against the lien from a company acceptable to the Arkansas Real Estate Commission.

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The developer whose project is subjected to an underlying blanket lien or encumbrance subsequent to the transfer of a time-share interest shall protect nondefaulting purchasers from foreclosure by: (1) Obtaining from the lienholder a nondisturbance clause, subordination agreement, or partial release of the lien for those time-share interests sold; or (2) Providing a surety bond or insurance against the lien from a company acceptable to the Arkansas Real Estate Commission.