Arkansas § 18-60-1011 Report of open-market sale

Arkansas Statutes

§ 18-60-1011 — Report of open-market sale

(a)Unless required to do so within a shorter time by § 18-60-401 et seq., a broker appointed under § 18-60-1010(b) to offer heirs property for open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under § 18-60-1006 or § 18-60-1010 .

(b)The report required by subsection (a) must contain the following information:

(1)a description of the property to be sold to each buyer;

(2)the name of each buyer;

(3)the proposed purchase price;

(4)the terms and conditions of the proposed sale, including the terms of any owner financing;

(5)the amounts to be paid to lienholders;

(6)a statement of contractual or other arrangements or conditions of the broker's commission; and (7) other materia

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Unless required to do so within a shorter time by § 18-60-401 et seq., a broker appointed under § 18-60-1010(b) to offer heirs property for open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under § 18-60-1006 or § 18-60-1010 . (b) The report required by subsection (a) must contain the following information: (1) a description of the property to be sold to each buyer; (2) the name of each buyer; (3) the proposed purchase price; (4) the terms and conditions of the proposed sale, including the terms of any owner financing; (5) the amounts to be paid to lienholders; (6) a statement of contractual or other arrangements or conditions of the broker's commission; and (7) other material facts relevant to the sale.

Arkansas § 18-60-1011 (Report of open-market sale) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.