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28-49-101. Possession by personal representative.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-49-101. Possession by personal representative.
(a) A personal representative shall have the right to, and shall, take possession of all of the personal property of the estate of the decedent, subject to the rights of dower and curtesy and statutory allowances of the surviving spouse or minor children, if any.
(b)(1) Real property shall be an asset in the hands of the personal representative when so directed by the will, if any, or when the court finds that the real property should be sold, mortgaged, leased, or exchanged for any purpose enumerated in § 28-51-103, irrespective of whether any personal property of the estate, other than money, is available for such a purpose.
(2) When real property has become an asset in the hands of the personal representative as provided in this section or when and as long as the court finds it necessary for the preservation of the property, for protecting the rights and interests of persons having interests therein, or for the benefit of the estate, the personal representative may collect rents and earnings from the property, pay taxes and special assessments thereon, make necessary repairs thereon, maintain the property in tenantable condition, preserve it against deterioration, protect it by insurance, and maintain or defend an action for the possession of the property, or to determine or protect the title until the real property is sold, mortgaged, leased, exchanged, or is delivered to the distributees thereof, or until the estate is settled.
(c) Unless sold, mortgaged, leased, or exchanged by the personal representative pursuant to other provisions of the Probate Code, the real property shall not be distributable by the personal representative.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-49-101
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:28-49-101
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a37e2453a4fe44479ac70c360c746fea15214d738c0f8feaf8bed7b4c930d187
Source location: content.xml paragraph 5694
Stored source content
28-49-101. Possession by personal representative.
(a) A personal representative shall have the right to, and shall, take possession of all of the personal property of the estate of the decedent, subject to the rights of dower and curtesy and statutory allowances of the surviving spouse or minor children, if any.
(b)(1) Real property shall be an asset in the hands of the personal representative when so directed by the will, if any, or when the court finds that the real property should be sold, mortgaged, leased, or exchanged for any purpose enumerated in § 28-51-103, irrespective of whether any personal property of the estate, other than money, is available for such a purpose.
(2) When real property has become an asset in the hands of the personal representative as provided in this section or when and as long as the court finds it necessary for the preservation of the property, for protecting the rights and interests of persons having interests therein, or for the benefit of the estate, the personal representative may collect rents and earnings from the property, pay taxes and special assessments thereon, make necessary repairs thereon, maintain the property in tenantable condition, preserve it against deterioration, protect it by insurance, and maintain or defend an action for the possession of the property, or to determine or protect the title until the real property is sold, mortgaged, leased, exchanged, or is delivered to the distributees thereof, or until the estate is settled.
(c) Unless sold, mortgaged, leased, or exchanged by the personal representative pursuant to other provisions of the Probate Code, the real property shall not be distributable by the personal representative.
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-51-103. Transfers pursuant to court orders.
(a) Real or personal property belonging to an estate may be sold, mortgaged, leased, or exchanged under court order when necessary for any of the following purposes:
(1) For the payment of claims;
(2) For the payment of a legacy given by the will of the decedent;
(3) For the preservation or protection of assets of the estate;
(4) For making distribution of the estate or any part thereof; or
(5) For any other purpose in the best interest of the estate.
(b) In the event the selection of property of the estate to be sold for any of the purposes enumerated in subsection (a) of this section results in a discrimination against the distributees of the property ordered sold, the court, in the distribution of the estate, shall order contribution to be made between the respective distributees in such manner as to equitably distribute the burden of payment of claims and to avoid an infringement of the substantive rights of the distributees of the estate.
(c) Real or personal property specifically devised or bequeathed shall not be sold for the purpose of the payment of claims if other assets of the estate are available.
(d) An order authorizing a personal representative to sell, mortgage, or lease real or personal property for the payment of obligations of the estate shall not be granted if any of the persons interested in the estate shall execute and file in the court a bond in a sum and with sureties as the court may approve, conditioned as the court may direct, to preserve the rights and equities of all interested persons, within such time as the court shall direct. An action may be maintained on the bond by the personal representative on behalf of any interested person who is prejudiced by breach of any obligatio
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-51-103
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 28-51-103. This identifies an authority to review, not proof of applicability.