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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 18-50-115 - Implied powers in mortgages

Universal Citation:
AR Code § 18-50-115 (2024)
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.
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  • (a)
    • (1) Subject to the provisions of § 18-50-114 and notwithstanding the terms of the mortgage, a power of sale is implied in every mortgage of real property situated in this state that is duly acknowledged and recorded.
    • (2) The exercise of the implied power of sale shall be pursuant to the provisions of this chapter.
  • (b) A mortgagor and his or her successor in interest shall have the rights and duties of a grantor, and a mortgagee and his or her successor in interest shall have the rights and duties of a trustee and a beneficiary.
  • (c) The mortgagee shall comply with §§ 18-50-103 - 18-50-107, 18-50-109, and 18-50-110 [repealed], and the mortgagee's deed shall comply with § 18-50-111.

Acts 1987, No. 53, § 15.

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