2016 Arkansas Code
Title 18 - Property
Subtitle 2 - Real Property
Chapter 16 - Landlord and Tenant
Subchapter 4 - -- Self-Service Storage Facilities
§ 18-16-408. Disposition of sale proceeds

AR Code ยง 18-16-408 (2016) What's This?

(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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