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Arkansas Code Title 18. Property § 18-16-408. Sale proceeds--Disbursement

Current as of March 28, 2024 | Updated by FindLaw Staff

(a) Proceeds from the sale shall be applied to satisfy the lien, and any surplus shall be disbursed as provided in subsection (b) of this section.

(b) If a sale is held under this subchapter, the operator shall:

(1) Satisfy the lien from the proceeds of the sale; and

(2) Hold the balance, if any, for delivery on demand to the occupant or any other recorded lienholders. If demand is not made within two (2) years after the date of the sale, the surplus shall escheat to the county.

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Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-16-408. Sale proceeds--Disbursement - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-16-408/

Read this complete Arkansas Code Title 18. Property § 18-16-408. Sale proceeds--Disbursement on Westlaw. Westlaw subscription required.

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