Arkansas Code of 1987 (2024)
Title 18 - PROPERTY (§§ 18-1-101 — 18-61-106)
Subtitle 4 - MORTGAGES AND LIENS (§§ 18-40-101 — 18-50-117)
Chapter 50 - STATUTORY FORECLOSURES (§§ 18-50-101 — 18-50-117)
Section 18-50-108 - Effect of sale

• (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.

Acts 1987, No. 53, § 8; 1999, No. 983, § 8.