§ 28-51-201 — Sale, mortgage, lease, or exchange

Arkansas § 28-51-201

• Jurisdiction: Arkansas
• Title: 28

Text

(a) The petition of a personal representative for authority to sell, mortgage, lease, or exchange personal property of an estate shall be heard without notice, or upon such notice as the court may direct. (b) The court, if satisfied as to the necessity or desirability of the action, may order the personal representative to proceed with the sale or other disposition at public or private sale and upon terms and conditions as by the court may be specifically directed. (c) The court shall prescribe safeguards to assure that the sale, mortgage, lease, or exchange is for an adequate consideration and for the best interest of the estate. (d) The court, in its discretion, may require confirmation of any sale or other disposition of personal property.

Legislative History

Acts 1949, No. 140, § 134; A.S.A. 1947, § 62-2711.