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Arkansas Code Title 18. Property § 18-14-602. Protection of purchasers from subsequent underlying lien

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.

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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/

Read this complete Arkansas Code Title 18. Property § 18-14-602. Protection of purchasers from subsequent underlying lien on Westlaw. Westlaw subscription required.

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