Arkansas Code Title 18. Property § 18-49-101. Statute of limitations

(c)(1) In all cases in which an indebtedness is secured by any mortgage, deed of trust, or instrument in which a vendor's lien is retained, the mortgage, deed of trust, or vendor's lien may be enforced or foreclosed at any time within the period prescribed by law for foreclosing mortgages or deeds of trust so far as the property mentioned or described in the deed of trust, mortgage, or other instrument is concerned.

(2) However, no claim or debt against the estate of a dead person shall be probated against the estate, whether secured by mortgage, deed of trust, or instrument retaining a vendor's lien, or not, except within the time prescribed by law for probating claims against estates.

(d)(1) The holder of a vendor's lien, whether as the original beneficiary or as the assignee or transferee thereof, must note on the margin of the record where the vendor's lien is recorded payments relative to the indebtedness secured thereby.

(2) If the payments are not noted on the margin of the record, then the debt shall become barred, as to third parties, after five (5) years from the maturity of the indebtedness or after five (5) years from the date of the last payment, if any, which may be noted on the margin of the record, thereby subjecting evidences of indebtedness secured by vendor's lien to the same provisions and limitations provided by law in connection with evidences of indebtedness secured by mortgages or deeds of trust.