Ark. Code Ann. » Title 16 Chapter 66
Arkansas Code Annotated

Ark. Code Ann. § 16-66-413 (2026)

Sale on credit

✓ current as of May 2026
Find cases: SyfertCases citing this section JustiaArk. Code CornellLII Search CasesGoogle Scholar
    1. In all cases where the right to stay the execution exists and is not exercised, sales under the execution shall be on a credit of three (3) months, upon the purchaser's giving bond and good security to the plaintiff in the execution for the payment of the sale money, bearing interest from date.
    2. The bond may be in substance as follows:
    1. When property sold on credit sells for more than will satisfy the execution, costs, and commission, the officer making the sale shall take a bond payable to the defendant, the owner of the property, for the excess, similar in every other respect to that directed in subsection (a) of this section to be taken to the plaintiff, and to have the same force and effect, and on which the same proceedings may be had.
    2. If the property is sold for cash in hand, any excess over satisfying the execution, charges, and commissions shall be paid over by the officer to the defendant whose property is sold.

“A. B., principal, and C. D., surety, do bind ourselves to pay E. F., within three months from the date hereof, the sum of $ , with interest thereon from this date, being the purchase money (here set out the several articles of property so purchased, with the price of each), which was this day sold by G. H., sheriff (or constable, as the case may be) of County, in satisfaction of an execution which issued from the office of the Clerk of the Circuit Court Clerk, (or K. L., a justice of the peace) on the day of , in favor of the said E. F., against M. O., for the sum of $ debt or damages, with interest and costs.

“Given under our hands, this day of , 20

History. Civil Code, §§ 683, 684; C. & M. Dig., §§ 4318, 4319; Pope's Dig., §§ 5330, 5331; A.S.A. 1947, §§ 30-426, 30-427.

Publisher's Notes. This section does not apply to sales made by constables on executions issued by a justice of the peace since it is superseded by §§ 16-19-1004, 16-19-1008 and 16-19-1009 with respect to such sales.

Case Notes

Applicability.

This section has no application to criminal proceedings. Hall v. Doyle, 35 Ark. 445 (1880).

Decree.

Decree ordering real property sold, without stating that it is to be on credit, is erroneous. Fry v. Street, 37 Ark. 39 (1881).

Interest.

Interest at the rate of six percent only can be charged on the deferred payment, but the sale is not voided where the selling officer undertook to charge eight percent interest where the purchaser did not base his refusal to complete the sale on that ground. Fulbright v. Morton, 131 Ark. 492, 199 S.W. 542 (1917).

Cited: Miller v. Alamo, 975 F.2d 547 (8th Cir. 1992).

Notes of Decisions
Cited in 2 cases, 1999–2002 · leading case: Boxley v. Boxley, 73 S.W.3d 19 (Ark. Ct. App. 2002).
Sort: Relevance Newest Treatment
Boxley v. Boxley, 73 S.W.3d 19 (Ark. Ct. App. 2002). · cites it 2× “Arkansas Code Annotated section 16-66-413(a) (1987) provides that bids at commissioners’ sales may be made on three months’ credit, upon the purchaser’s giving of “bond and good security.”
In Re Tomlin, 228 B.R. 916 (Bankr. E.D. Ark. 1999). · cites it 2× “Ark.Code Ann. § 16-66-413(a)(1) (Michie 1987).”
Ark. Code Ann. § 16-66-413(a): 1 case
Boxley v. Boxley, 73 S.W.3d 19 (Ark. Ct. App. 2002). “Arkansas Code Annotated section 16-66-413(a) (1987) provides that bids at commissioners’ sales may be made on three months’ credit, upon the purchaser’s giving of “bond and good security.”
Ark. Code Ann. § 16-66-413(a)(1): 1 case
In Re Tomlin, 228 B.R. 916 (Bankr. E.D. Ark. 1999). “Ark.Code Ann. § 16-66-413(a)(1) (Michie 1987).”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.