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28-51-101. No priority between real and personal property.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-51-101. No priority between real and personal property.
(a) In determining what property of the estate shall be sold, mortgaged, leased, or exchanged for any purpose provided in § 28-51-103, there shall be no priority as between real and personal property except as provided by the will, if any, or by order of the court or by the provisions of § 28-53-107.
(b) It shall not be necessary that assets of either class, real or personal, other than cash assets, be exhausted before resorting to an asset of the other class for the accomplishment of any purpose enumerated in § 28-51-103.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-51-101
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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Record provenance
Stable record: arkansas_code:legal_authorities:28-51-101
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5280b4ec6038d6e1fdd0ed05eee9403e5438c6cdc209da6ab98cfdbb204cee13
Source location: content.xml paragraph 6667
Stored source content
28-51-101. No priority between real and personal property.
(a) In determining what property of the estate shall be sold, mortgaged, leased, or exchanged for any purpose provided in § 28-51-103, there shall be no priority as between real and personal property except as provided by the will, if any, or by order of the court or by the provisions of § 28-53-107.
(b) It shall not be necessary that assets of either class, real or personal, other than cash assets, be exhausted before resorting to an asset of the other class for the accomplishment of any purpose enumerated in § 28-51-103.
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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.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-53-107. Abatement.
(a) Except as provided in subsection (c) of this section, shares of the distributees shall abate for the payment of claims, legacies, the family allowances, the shares of pretermitted heirs, or the share of the surviving spouse who is entitled to and elects to take against the will, without any preference or priority as between real and personal property, in the following order:
(1) Property not disposed of by the will;
(2) Property devised to the residuary devisee;
(3) Property disposed of by the will but not specifically devised and not devised to the residuary devisee; and
(4) Property specifically devised.
(b)(1) A general devise charged on any specific property or fund, for purpose of abatement, shall be deemed property specifically devised to the extent of the value of the thing on which it is charged.
(2) Upon the failure or insufficiency of the thing on which it is charged, it shall be deemed property not specifically devised to the extent of the failure or insufficiency.
(c) If the provisions of the will or the testamentary plan or the express or implied purpose of the devise would be defeated by the order of abatement stated in subsection (a) of this section, the shares of distributees shall abate in such other manner as may be found necessary to give effect to the intention of the testator.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-53-107
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 28-53-107. This identifies an authority to review, not proof of applicability.