Browse Arkansas Code titles and sections
16-66-505. Redemption from judgment creditor by purchaser.
Arkansas Code — all titles (historical 2020) · legal_authorities
16-66-505. Redemption from judgment creditor by purchaser.
(a) Unless the purchaser, within thirty (30) days from the filing of the statement and the making of the endorsement mentioned in § 16-66-504, pays to the officer the amount so bid by the judgment creditor, the endorsement shall operate as a redemption of the property by the judgment creditor and he or she shall succeed to all the rights and liabilities of the purchaser.
(b) If the purchaser pays within the time allowed the amount so bid by the judgment creditor to the officer, it shall bar the redemption. The right of redemption of the judgment creditor as against the purchaser or anyone redeeming from him or her shall be forever foreclosed.
(c)(1) If the purchaser fails to pay over to the officer the amount of the bid as provided in this section, the officer shall pay over to the purchaser the amount so paid by the judgment creditor and credit the execution of the judgment creditor with the amount so bid by him or her, after deducting costs and commissions, and shall execute to the judgment creditor a certificate of sale, in which shall be included as the price paid the amount paid to the purchaser and the amount of the bid of the judgment creditor.
(2) The judgment creditor shall for all purposes of this subchapter be regarded as the purchaser of the property at the price mentioned in the certificate of sale executed to him or her.
(d) Any other judgment creditor may in the same manner redeem from the judgment creditor or each succeeding judgment creditor who may redeem under the provisions of this section.
(e) No redemption shall be allowed after twelve (12) months from the day of the original sale.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 16-66-505
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:16-66-505
Source file: gov.ar.code.title.16.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9ca4e5c503f6a6e8a00667bc3e81711197cf20052cd2fa37c2ab802e69dc58ee
Source location: content.xml paragraph 27237
Stored source content
16-66-505. Redemption from judgment creditor by purchaser.
(a) Unless the purchaser, within thirty (30) days from the filing of the statement and the making of the endorsement mentioned in § 16-66-504, pays to the officer the amount so bid by the judgment creditor, the endorsement shall operate as a redemption of the property by the judgment creditor and he or she shall succeed to all the rights and liabilities of the purchaser.
(b) If the purchaser pays within the time allowed the amount so bid by the judgment creditor to the officer, it shall bar the redemption. The right of redemption of the judgment creditor as against the purchaser or anyone redeeming from him or her shall be forever foreclosed.
(c)(1) If the purchaser fails to pay over to the officer the amount of the bid as provided in this section, the officer shall pay over to the purchaser the amount so paid by the judgment creditor and credit the execution of the judgment creditor with the amount so bid by him or her, after deducting costs and commissions, and shall execute to the judgment creditor a certificate of sale, in which shall be included as the price paid the amount paid to the purchaser and the amount of the bid of the judgment creditor.
(2) The judgment creditor shall for all purposes of this subchapter be regarded as the purchaser of the property at the price mentioned in the certificate of sale executed to him or her.
(d) Any other judgment creditor may in the same manner redeem from the judgment creditor or each succeeding judgment creditor who may redeem under the provisions of this section.
(e) No redemption shall be allowed after twelve (12) months from the day of the original sale.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
16-66-504. Right of judgment creditor to redeem — Entry of redemption upon execution book.
(a) At any time before the expiration of twelve (12) months from the sale of any land under the provisions of this subchapter which has not been redeemed, any judgment creditor may redeem the land in the manner set forth in subsection (b) of this section.
(b)(1) The judgment creditor shall:
(A) Sue out an execution upon his or her judgment and place the execution in the hands of the proper officer;
(B) Pay to the officer the amount for which the premises were sold, and fifteen percent (15%) per annum thereon from the date of the sale, and all charges thereon for the use of the purchaser; and
(C) Offer to credit his or her execution with a sum at least equal to ten percent (10%) of the amount for which the land sold, which offer shall be regarded as his or her bid.
(2) All of which shall be endorsed upon the execution, and a statement thereof filed with the execution upon which the land was sold. Whereupon, the clerk shall endorse in the proper place upon the execution book that the creditor has bid for the redemption of the property, which shall be dated, and may be in substance as follows:
“A. B., a judgment creditor, bids … dollars, for the redemption of the property sold on this execution.”
Source: Arkansas Code — historical release 78 (November 6, 2020) · 16-66-504
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 16-66-504. This identifies an authority to review, not proof of applicability.