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18-60-1008. Partition alternatives.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-60-1008. Partition alternatives.
(a) If all the interests of all cotenants that requested partition by sale are not purchased by other cotenants pursuant to § 18-60-1007, or if after conclusion of the buyout under § 18-60-1007, a cotenant remains that has requested partition in kind, the court shall order partition in kind unless the court, after consideration of the factors listed in § 18-60-1009, finds that partition in kind will result in great prejudice to the cotenants as a group. In considering whether to order partition in kind, the court shall approve a request by two or more parties to have their individual interests aggregated.
(b) If the court does not order partition in kind under subsection (a), the court shall order partition by sale pursuant to § 18-60-1010 or, if no cotenant requested partition by sale, the court shall dismiss the action.
(c) If the court orders partition in kind pursuant to subsection (a), the court may require that one or more cotenants pay one or more other cotenants amounts so that the payments, taken together with the value of the in-kind distributions to the cotenants, will make the partition in kind just and proportionate in value to the fractional interests held.
(d) If the court orders partition in kind, the court shall allocate to the cotenants that are unknown, unlocatable, or the subject of a default judgment, if their interests were not bought out pursuant to § 18-60-1007, a part of the property representing the combined interests of these cotenants as determined by the court and this part of the property shall remain undivided.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-60-1008
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:18-60-1008
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 27997aa5e44b31aaf9b2ebf7bc065c106e28a2cc3c4b3d81b4ad3fde435af1aa
Source location: content.xml paragraph 14356
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18-60-1008. Partition alternatives.
(a) If all the interests of all cotenants that requested partition by sale are not purchased by other cotenants pursuant to § 18-60-1007, or if after conclusion of the buyout under § 18-60-1007, a cotenant remains that has requested partition in kind, the court shall order partition in kind unless the court, after consideration of the factors listed in § 18-60-1009, finds that partition in kind will result in great prejudice to the cotenants as a group. In considering whether to order partition in kind, the court shall approve a request by two or more parties to have their individual interests aggregated.
(b) If the court does not order partition in kind under subsection (a), the court shall order partition by sale pursuant to § 18-60-1010 or, if no cotenant requested partition by sale, the court shall dismiss the action.
(c) If the court orders partition in kind pursuant to subsection (a), the court may require that one or more cotenants pay one or more other cotenants amounts so that the payments, taken together with the value of the in-kind distributions to the cotenants, will make the partition in kind just and proportionate in value to the fractional interests held.
(d) If the court orders partition in kind, the court shall allocate to the cotenants that are unknown, unlocatable, or the subject of a default judgment, if their interests were not bought out pursuant to § 18-60-1007, a part of the property representing the combined interests of these cotenants as determined by the court and this part of the property shall remain undivided.
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Arkansas Code — all titles (historical 2020) · legal_authorities
18-60-1007. Cotenant buyout.
(a) If any cotenant requested partition by sale, after the determination of value under § 18-60-1006, the court shall send notice to the parties that any cotenant except a cotenant that requested partition by sale may buy all the interests of the cotenants that requested partition by sale.
(b) Not later than 45 days after the notice is sent under subsection (a), any cotenant except a cotenant that requested partition by sale may give notice to the court that it elects to buy all the interests of the cotenants that requested partition by sale.
(c) The purchase price for each of the interests of a cotenant that requested partition by sale is the value of the entire parcel determined under § 18-60-1006 multiplied by the cotenant's fractional ownership of the entire parcel.
(d) After expiration of the period in subsection (b), the following rules apply:
(1) If only one cotenant elects to buy all the interests of the cotenants that requested partition by sale, the court shall notify all the parties of that fact.
(2) If more than one cotenant elects to buy all the interests of the cotenants that requested partition by sale, the court shall allocate the right to buy those interests among the electing cotenants based on each electing cotenant's existing fractional ownership of the entire parcel divided by the total existing fractional ownership of all cotenants electing to buy and send notice to all the parties of that fact and of the price to be paid by each electing cotenant.
(3) If no cotenant elects to buy all the interests of the cotenants that requested partition by sale, the court shall send notice to all the parties of that fact and resolve the partition action under § 18-60-1008(a) and (b).
(e) If the court sends notice to t
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-60-1007
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 18-60-1007. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-60-1009. Considerations for partition in kind.
(a) In determining under § 18-60-1008(a) whether partition in kind would result in great prejudice to the cotenants as a group, the court shall consider the following:
(1) whether the heirs property practicably can be divided among the cotenants;
(2) whether partition in kind would apportion the property in such a way that the aggregate fair market value of the parcels resulting from the division would be materially less than the value of the property if it were sold as a whole, taking into account the condition under which a court-ordered sale likely would occur;
(3) evidence of the collective duration of ownership or possession of the property by a cotenant and one or more predecessors in title or predecessors in possession to the cotenant who are or were relatives of the cotenant or each other;
(4) a cotenant's sentimental attachment to the property, including any attachment arising because the property has ancestral or other unique or special value to the cotenant;
(5) the lawful use being made of the property by a cotenant and the degree to which the cotenant would be harmed if the cotenant could not continue the same use of the property;
(6) the degree to which the cotenants have contributed their pro rata share of the property taxes, insurance, and other expenses associated with maintaining ownership of the property or have contributed to the physical improvement, maintenance, or upkeep of the property; and
(7) any other relevant factor.
(b) The court may not consider any one factor in subsection (a) to be dispositive without weighing the totality of all relevant factors and circumstances.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-60-1009
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 18-60-1009. 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.