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Arkansas Code Title 18. Property § 18-60-420. Judicial order of sale

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

(a) If the commissioners appointed under this subchapter report to the court that all or part of the land or tenements of which partition had been directed are so situated that partition cannot be made without great prejudice to the owners of the land or tenements, the court may, if satisfied that the report is just and correct, make an order that the commissioners sell all or part of the land or tenements:

(1) At public auction to the highest bidder; or

(2) By a negotiated sale under terms and conditions established by the court, including without limitation by engaging a licensed real estate broker to sell the land or tenements.

(b) The court making the order of sale shall therein direct the terms and conditions, time and place of sale, the credit, if any, and the security to be taken.

(c) The commissioners shall give notice of the time and place and terms of any sale to be made by them, in accordance with the order of the court directing the sale.

(d)(1) If the premises consist of distinct farms, buildings, tracts, or lots of land, they shall be sold separately.

(2) When any tract of land or lot can be divided for the purpose of sale, with advantage to the parties interested, it may be so divided and sold in parcels.

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Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-60-420. Judicial order of sale - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-60-420/

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