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28-49-113. Power to borrow money.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-49-113. Power to borrow money.
Upon a showing that such an action will be advantageous to the estate, the court may authorize the personal representative to borrow money, to execute notes and other legal evidences of indebtedness, and to mortgage property of the estate in accordance with the provisions of §§ 28-51-201 and 28-51-301.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-49-113
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:28-49-113
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 41a390ae9d65b321be1b9f75711d8f05f79ad040434c66a2a4478f0c21a6348f
Source location: content.xml paragraph 5962
Stored source content
28-49-113. Power to borrow money.
Upon a showing that such an action will be advantageous to the estate, the court may authorize the personal representative to borrow money, to execute notes and other legal evidences of indebtedness, and to mortgage property of the estate in accordance with the provisions of §§ 28-51-201 and 28-51-301.
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-51-201. Sale, mortgage, lease, or exchange.
(a) The petition of a personal representative for authority to sell, mortgage, lease, or exchange personal property of an estate shall be heard without notice, or upon such notice as the court may direct.
(b) The court, if satisfied as to the necessity or desirability of the action, may order the personal representative to proceed with the sale or other disposition at public or private sale and upon terms and conditions as by the court may be specifically directed.
(c) The court shall prescribe safeguards to assure that the sale, mortgage, lease, or exchange is for an adequate consideration and for the best interest of the estate.
(d) The court, in its discretion, may require confirmation of any sale or other disposition of personal property.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-51-201
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 28-51-201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-51-301. Sale, mortgage, or lease.
(a)(1) Upon petition of a personal representative, the court having jurisdiction of the administration of the estate may order the sale, mortgage, or lease of real property of the estate, or timber thereon located, or oil, gas, or other minerals or mineral rights or interests appertaining thereto, or any part of or interest in the property, wherever situated in this state.
(2) The court may authorize the execution of any contract relating to, or conveyance or transfer of, any such property, right, or interest, containing such customary or desirable provisions with reference thereto, as the court shall find to be for the best interest of the estate.
(b) The petition shall set forth the reasons for the application and describe the property or right or interest involved and the terms of the contract, conveyance, or transfer for which authority is sought and shall include a description of the bond of the personal representative and a statement of the facts essential to determine its sufficiency.
(c) Upon the filing of the petition, the court shall fix the time and place for the hearing. Notice of the hearing stating the nature of the application shall be given to such interested persons as the court may direct in the manner provided in § 28-1-112, unless the value of the interest to be sold, mortgaged, or leased is not more than ten thousand dollars ($10,000), in which case the court, at its discretion, may hear the petition without notice.
(d) At the hearing and upon satisfactory proof, the court may order the sale, mortgage, or lease of the property described or any part thereof or right or interest therein.
(e) At the discretion of the court, real property encumbered by a lien may be ordered sold subject to the lien.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-51-301
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 28-51-301. This identifies an authority to review, not proof of applicability.