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2017 Arkansas Code
Title 18 - Property
Subtitle 4 - Mortgages and Liens
Chapter 50 - Statutory Foreclosures
§ 18-50-108. Effect of sale
Universal Citation: AR Code § 18-50-108 (2017)
- (a)
- (1) A sale made by a mortgagee or trustee shall foreclose and terminate all interest in the trust property of all persons to whom notice is given under § 18-50-104 and of any other person claiming by, through, or under the person. A failure to give notice to any person entitled to notice shall not affect the validity of the sale as to persons notified.
- (2) A person entitled to notice, but not given notice, shall have the rights of a person not made a defendant in a judicial foreclosure.
- (b) A sale shall terminate all rights of redemption, and no person shall have a right to redeem the trust property after a sale, notwithstanding that the deed to and possession of the trust property have yet to be delivered.
- (c)
- (1) No notice shall be required to be given to any person claiming an interest subsequent to the filing of the notice of default and intention to sell as set forth in § 18-50-104.
- (2) The filing of the notice of default and intention to sell shall have the same force and effect as the filing of a lis pendens in a judicial proceeding.
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