2019 Arkansas Code
Title 28 - Wills, Estates, and Fiduciary Relationships
Subtitle 4 - Administration of Decedents' Estates
Chapter 51 - Transfers of Property
Subchapter 2 - Personal Property
§ 28-51-201. Sale, Mortgage, Lease, or Exchange

Universal Citation:
AR Code § 28-51-201 (2019)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
  • (a) The petition of a personal representative for authority to sell, mortgage, lease, or exchange personal property of an estate shall be heard without notice, or upon such notice as the court may direct.

  • (b) The court, if satisfied as to the necessity or desirability of the action, may order the personal representative to proceed with the sale or other disposition at public or private sale and upon terms and conditions as by the court may be specifically directed.

  • (c) The court shall prescribe safeguards to assure that the sale, mortgage, lease, or exchange is for an adequate consideration and for the best interest of the estate.

  • (d) The court, in its discretion, may require confirmation of any sale or other disposition of personal property.

Disclaimer: These codes may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.