28-49-104. Settlements.

Arkansas Code — all titles (historical 2020) · legal_authorities

28-49-104. Settlements.

28-49-104. Settlements. (a) When it appears to be for the best interest of the estate, or in the case of an action for wrongful death, for the best interest of the estate or widow and next of kin, the personal representative, upon the authorization of or approval by the court, may effect a compromise settlement of any claim, debt, or obligation due or owing to the estate, whether arising in contract or tort, or he or she may extend, renew, or in any manner modify the terms of any obligation owing to the estate. (b) If the personal representative holds a mortgage, pledge, or other lien upon property of another person, he or she may, in lieu of foreclosure, accept a conveyance or transfer of the encumbered assets from the owner thereof in satisfaction of the indebtedness secured by the lien, if it appears for the best interest of the estate and if the court shall so order.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-49-104

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.