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18-48-808. Disputed claim — Order to show cause.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-48-808. Disputed claim — Order to show cause.
(a)(1) An owner of commercial real estate may dispute a recorded notice of claim of lien against proceeds filed under this subchapter by filing a complaint in the circuit court of the county where the commercial real estate or a portion of the commercial real estate is located for an order directing the principal broker to appear before the court and show cause why a release of the notice of claim of lien against proceeds should not be granted.
(2) If after a hearing, a court determines that the owner is:
(A) Not obligated to pay the principal broker a commission under the terms of a representation agreement, it shall issue an order:
(i) Releasing the notice of claim of lien against proceeds; and
(ii) Awarding costs and a reasonable attorney's fee to the owner; or
(B) Obligated to pay the principal broker a commission under the terms of a representation agreement, the court shall issue an order awarding costs and a reasonable attorney's fee to the licensee.
(b)(1) A principal broker who has a lien on net rental proceeds under § 18-48-803, has recorded a notice of claim of lien against proceeds, and has complied with the requirements of this subchapter may file a complaint in the circuit court of the county where the commercial real estate or a portion of the commercial real estate is located for an order directing the owner to appear before the court and show cause why the relief requested in the complaint should not be granted.
(2) If after a hearing, the court determines that the owner is:
(A) Obligated to pay the principal broker a commission under the terms of a representation agreement, the court shall:
(i) Issue an order enjoining the owner from paying the net rental proceeds from the lease to an
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-48-808
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.
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Stable record: arkansas_code:legal_authorities:18-48-808
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f9470c11b3f6db27ccfc9168b1871992fdd51a9c4ceb9ca9b8a49b40c7a477d9
Source location: content.xml paragraph 10872
Stored source content
18-48-808. Disputed claim — Order to show cause.
(a)(1) An owner of commercial real estate may dispute a recorded notice of claim of lien against proceeds filed under this subchapter by filing a complaint in the circuit court of the county where the commercial real estate or a portion of the commercial real estate is located for an order directing the principal broker to appear before the court and show cause why a release of the notice of claim of lien against proceeds should not be granted.
(2) If after a hearing, a court determines that the owner is:
(A) Not obligated to pay the principal broker a commission under the terms of a representation agreement, it shall issue an order:
(i) Releasing the notice of claim of lien against proceeds; and
(ii) Awarding costs and a reasonable attorney's fee to the owner; or
(B) Obligated to pay the principal broker a commission under the terms of a representation agreement, the court shall issue an order awarding costs and a reasonable attorney's fee to the licensee.
(b)(1) A principal broker who has a lien on net rental proceeds under § 18-48-803, has recorded a notice of claim of lien against proceeds, and has complied with the requirements of this subchapter may file a complaint in the circuit court of the county where the commercial real estate or a portion of the commercial real estate is located for an order directing the owner to appear before the court and show cause why the relief requested in the complaint should not be granted.
(2) If after a hearing, the court determines that the owner is:
(A) Obligated to pay the principal broker a commission under the terms of a representation agreement, the court shall:
(i) Issue an order enjoining the owner from paying the net rental proceeds from the lease to any party other than the principal broker;
(ii) Order the owner to pay the net rental proceeds to the principal broker; and
(iii) Award a reasonable attorney's fee and expenses to the principal broker; or
(B) Not obligated to pay the licensee a commission under the terms of a representation agreement, the court shall issue an order awarding a reasonable attorney's fee and expenses to the owner.
(c)(1) A complaint authorized by subsection (a) or subsection (b) of this section is barred if not filed within twelve (12) months of the date that the notice of claim of lien against proceeds was recorded.
(2) A proceeding under this section shall not affect other rights and remedies available to the parties under this subchapter or otherwise.
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Arkansas Code — all titles (historical 2020) · legal_authorities
18-48-803. Lien upon personal property.
(a)(1) A principal broker has a lien in the amount that the owner has agreed to pay the principal broker or real estate firm under a representation agreement upon:
(A) The owner's net proceeds from the disposition of commercial real estate; and
(B) The net rental proceeds from the lease of commercial real estate.
(2) A lien created under subdivision (a)(1) of this section:
(A) Encumbers only personal property;
(B) Does not encumber real property; and
(C) May:
(i) Be asserted only by the principal broker identified in the representation agreement; and
(ii) Not be assigned voluntarily or by operation of law.
(b)(1) Subject to the requirements of subdivisions (b)(2) and (3) of this section, a lien created under subdivision (a)(1) of this section is:
(A) Effective on the date of the recording of a notice of claim of lien upon proceeds in accordance with subdivision (b)(2) of this section; and
(B) Perfected by recording the notice of claim of lien upon proceeds with the circuit clerk in the county or counties in which the commercial real estate is located.
(2)(A) A lien created as the result of a disposition of commercial real estate is not effective unless it is recorded before the deed conveying the commercial real estate is recorded in the office of the circuit clerk in the county or counties in which the commercial real estate is located.
(B) On or before the date the deed conveying the commercial real estate is recorded, the principal broker shall deliver a copy of the notice of claim of lien against proceeds to the escrow closing agent closing the disposition of commercial real estate in the manner provided in § 18-48-806 if the identity of the escrow closing agent is known by the principal broker.
(3
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-48-803
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 18-48-803. This identifies an authority to review, not proof of applicability.