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

Arkansas Statutes

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

Arkansas § 18-60-1011

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This text of Arkansas § 18-60-1011 (Report of open-market sale) 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. § 18-60-1011 (2026).

Text

(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

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(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.