2018 Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 4 - Administration of Decedents' Estates
Chapter 51 - Transfers of Property
Subchapter 3 - Real Property Interests
§ 28-51-302. Appraisal
(a)
(1) Before a personal representative shall sell real property, he or she shall have it appraised by three (3) disinterested persons, selected by him or her, unless appointed by the court, who are well informed concerning the value of real property in the vicinity.
(2) However, unless there is an objection by an heir or beneficiary of the estate, the court may approve the appointment of one (1) appraiser to appraise the real property.
(b) The appraisers shall appraise the real property at its full and fair value and immediately deliver the appraisal certified by them under oath to the personal representative.
(c) The appraisal shall be filed with the clerk prior to the rendition of the order authorizing the sale.
(d) In connection with the hearing on the petition for the order of sale, or prior to the hearing, upon proper notice, the court, upon evidence heard, may approve, modify, or reject the appraisal.
