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18-60-1002. Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-60-1002. Definitions.
In this subchapter:
(1)(A) “Ascendant” means an individual who precedes another individual in lineage, in the direct line of ascent from the other individual.
(B) “Ascendant” includes an adoptive parent and his or her ascendants.
(2) “Collateral” means an individual who is related to another individual under § 28-9-214 but who is not the other individual's ascendant or descendant.
(3)(A) “Descendant” means an individual's child, grandchild, and any other, however remotely related to such an individual, who is in a direct line of descent from him or her, including lineal descendants and excluding ascendants and collaterals.
(B) “Descendant” includes an adopted child and his or her descendants.
(4) “Determination of value” means a court order determining the fair market value of heirs property under § 18-60-1006 or § 18-60-1010 or adopting the valuation of the property agreed to by all cotenants.
(5) “Heirs property” means real property held in tenancy in common which satisfies all of the following requirements as of the filing of a partition action:
(A) there is no agreement in a record binding all the cotenants which governs the partition of the property;
(B) one or more of the cotenants acquired title from a relative, whether living or deceased; and
(C) any of the following applies:
(i) 20 percent or more of the interests are held by cotenants who are relatives;
(ii) 20 percent or more of the interests are held by an individual who acquired title from a relative, whether living or deceased; or
(iii) 20 percent or more of the cotenants are relatives.
(6) “Partition by sale” means a court-ordered sale of the entire heirs property, whether by auction, sealed bids, or open-market sale conducted under § 18-60-1010.
(7)
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-60-1002
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:18-60-1002
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a37e858232b62f9699de548e01703de6c997b4f19ca5a1cbcfdf15bd58fb1bf2
Source location: content.xml paragraph 14274
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18-60-1002. Definitions.
In this subchapter:
(1)(A) “Ascendant” means an individual who precedes another individual in lineage, in the direct line of ascent from the other individual.
(B) “Ascendant” includes an adoptive parent and his or her ascendants.
(2) “Collateral” means an individual who is related to another individual under § 28-9-214 but who is not the other individual's ascendant or descendant.
(3)(A) “Descendant” means an individual's child, grandchild, and any other, however remotely related to such an individual, who is in a direct line of descent from him or her, including lineal descendants and excluding ascendants and collaterals.
(B) “Descendant” includes an adopted child and his or her descendants.
(4) “Determination of value” means a court order determining the fair market value of heirs property under § 18-60-1006 or § 18-60-1010 or adopting the valuation of the property agreed to by all cotenants.
(5) “Heirs property” means real property held in tenancy in common which satisfies all of the following requirements as of the filing of a partition action:
(A) there is no agreement in a record binding all the cotenants which governs the partition of the property;
(B) one or more of the cotenants acquired title from a relative, whether living or deceased; and
(C) any of the following applies:
(i) 20 percent or more of the interests are held by cotenants who are relatives;
(ii) 20 percent or more of the interests are held by an individual who acquired title from a relative, whether living or deceased; or
(iii) 20 percent or more of the cotenants are relatives.
(6) “Partition by sale” means a court-ordered sale of the entire heirs property, whether by auction, sealed bids, or open-market sale conducted under § 18-60-1010.
(7) “Partition in kind” means the division of heirs property into physically distinct and separately titled parcels.
(8) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
(9) “Relative” means an ascendant, descendant, or collateral or an individual otherwise related to another individual by marriage or law of this state other than this subchapter.
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Arkansas Code — all titles (historical 2020) · legal_authorities
18-60-1006. Determination of value.
(a) Except as otherwise provided in subsections (b) and (c), if the court determines that the property that is the subject of a partition action is heirs property, the court shall determine the fair market value of the property by ordering an appraisal pursuant to subsection (d).
(b) If all cotenants have agreed to the value of the property or to another method of valuation, the court shall adopt that value or the value produced by the agreed method of valuation.
(c) If the court determines that the evidentiary value of an appraisal is outweighed by the cost of the appraisal, the court, after an evidentiary hearing, shall determine the fair market value of the property and send notice to the parties of the value.
(d) If the court orders an appraisal, the court shall appoint a disinterested real estate appraiser registered in this state to determine the fair market value of the property assuming sole ownership of the fee simple estate. On completion of the appraisal, the appraiser shall file a sworn or verified appraisal with the court.
(e) If an appraisal is conducted pursuant to subsection (d), not later than 10 days after the appraisal is filed, the court shall send notice to each party with a known address, stating:
(1) the appraised fair market value of the property;
(2) that the appraisal is available at the clerk's office; and
(3) that a party may file with the court an objection to the appraisal not later than 30 days after the notice is sent, stating the grounds for the objection.
(f)(1) Except as provided in subsection (h), if an appraisal is filed with the court pursuant to subsection (d), the court shall conduct a hearing to determine the fair market value of the property not sooner than thirty (30) days
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-60-1006
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 18-60-1006. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-60-1010. Open-market sale, sealed bids, or auction.
(a) If the court orders a sale of heirs property, the sale must be an open-market sale unless the court finds that a sale by sealed bids or an auction would be more economically advantageous and in the best interest of the cotenants as a group.
(b) If the court orders an open-market sale and the parties, not later than 10 days after the entry of the order, agree on a real estate broker licensed in this state to offer the property for sale, the court shall appoint the broker and establish a reasonable commission. If the parties do not agree on a broker, the court shall appoint a disinterested real estate broker licensed in this state to offer the property for sale and shall establish a reasonable commission. The broker shall offer the property for sale in a commercially reasonable manner at a price no lower than the determination of value and on the terms and conditions established by the court.
(c) If the broker appointed under subsection (b) obtains within a reasonable time an offer to purchase the property for at least the determination of value:
(1) the broker shall comply with the reporting requirements in § 18-60-1011; and
(2) the sale may be completed in accordance with state law other than this subchapter.
(d) If the broker appointed under subsection (b) does not obtain within a reasonable time an offer to purchase the property for at least the determination of value, the court, after hearing, may:
(1) approve the highest outstanding offer, if any;
(2) redetermine the value of the property and order that the property continue to be offered for an additional time; or
(3) order that the property be sold by sealed bids or at an auction.
(e) If the court orders a sale by sealed bids or an auct
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-60-1010
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 18-60-1010. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-9-214. Tables of descents.
The heritable estate of an intestate as defined in § 28-9-206 shall pass as follows upon the intestate's death:
(1) First, to the children of the intestate and the descendants of each child of the intestate who may have predeceased the intestate. The children and descendants will take per capita or per stirpes according to §§ 28-9-204 and 28-9-205;
(2) Second, if the intestate is survived by no descendant, to the intestate's surviving spouse unless the intestate and the surviving spouse had been continuously married less than three (3) years next preceding the death of the intestate, in which event the surviving spouse will take merely fifty percent (50%) of the intestate's heritable estate;
(3) Third, if the intestate is survived by no descendant or spouse, to the intestate's surviving parents, sharing equally, or to the sole surviving parent if only one (1) of them shall be living;
(4) Fourth, if the intestate is survived by no descendant but is survived by a spouse to whom the intestate has been continuously married less than three (3) years next preceding the death of the intestate, the entire portion of his or her heritable estate which does not pass to the surviving spouse under subdivision (2) of this section shall pass to the intestate's surviving parents, sharing equally, or to the sole surviving parent if only one (1) of them shall be living;
(5) Fifth, if the intestate is survived by no descendant or parent, then all of his or her heritable estate which under subdivisions (3) and (4) of this section would have vested in the intestate's surviving parent or parents will pass to the intestate's brothers and sisters and the descendants of any brothers and sisters of the intestate who may have predeceased the intestate, suc
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-9-214
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 28-9-214. This identifies an authority to review, not proof of applicability.