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Current as of March 28, 2024 | Updated by FindLaw Staff
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.
Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-14-602. Protection of purchasers from subsequent underlying lien - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-14-602/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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