{"data":{"id":"us-ar/ark.-code-ann.-18-60-1011","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 18-60-1011","heading":"Report of open-market sale","body":"(a) Unless required to do so within a shorter time by § 18-60-401 et seq., a broker appointed under § 18-60-1010(b) to offer heirs property for open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under § 18-60-1006 or § 18-60-1010 . (b) The report required by subsection (a) must contain the following information: (1) a description of the property to be sold to each buyer; (2) the name of each buyer; (3) the proposed purchase price; (4) the terms and conditions of the proposed sale, including the terms of any owner financing; (5) the amounts to be paid to lienholders; (6) a statement of contractual or other arrangements or conditions of the broker's commission; and (7) other material facts relevant to the sale. Added by Act 2015, No. 107,§ 1, eff. 1/1/2016.\n\n(a) Unless required to do so within a shorter time by § 18-60-401 et seq., a broker appointed under § 18-60-1010(b) to offer heirs property for open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under § 18-60-1006 or § 18-60-1010 .\n\n(b) The report required by subsection (a) must contain the following information: (1) a description of the property to be sold to each buyer; (2) the name of each buyer; (3) the proposed purchase price; (4) the terms and conditions of the proposed sale, including the terms of any owner financing; (5) the amounts to be paid to lienholders; (6) a statement of contractual or other arrangements or conditions of the broker's commission; and (7) other material facts relevant to the sale.\n\n(1) a description of the property to be sold to each buyer;\n\n(2) the name of each buyer;\n\n(3) the proposed purchase price;\n\n(4) the terms and conditions of the proposed sale, including the terms of any owner financing;\n\n(5) the amounts to be paid to lienholders;\n\n(6) a statement of contractual or other arrangements or conditions of the broker's commission; and\n\n(7) other material facts relevant to the sale.","path":["AR Code","Title 18","Chapter 60","Subchapter 10"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"8680f61bd690c1764ad889be728a4ff119188b290ee7d43a85750d10ca86932d","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-18-60-1010","next":"us-ar/ark.-code-ann.-18-60-1012"},"notice":"GroundRules: Original legal text. Not legal advice."}