Ark. Code Ann. § 18-50-107 (2026)
Manner of sale
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The sale shall be held on the date and at the time and place designated in the notice of default and intention to sell, except that the sale shall:
- Be held between 9:00 a.m. and 4:00 p.m.;
- Be held either at the premises of the trust property or at the front door of the county courthouse of the county in which the trust property is situated; and
- Not be held on a Saturday, Sunday, or a legal holiday.
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- Any person, including the mortgagee and the beneficiary, may bid at the sale.
- The trustee may bid for the beneficiary but not for himself or herself.
- The mortgagee or trustee shall engage a third party that is licensed to sell real estate under the Real Estate License Law, § 17-42-101 et seq., and licensed to act as an auctioneer under the Auctioneer's Licensing Act, § 17-17-101 et seq., to conduct the sale and act at the sale as the auctioneer.
- No bid shall be accepted that is less than two-thirds (2/3) of the entire indebtedness due at the date of sale.
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- The person conducting the sale may postpone the sale from time to time.
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In every such case, notice of postponement shall be given by:
- Public proclamation thereof by that person; or
- Written notice of postponement posted at the time and place last appointed for the sale.
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- No other notice of the postponement need be given unless the sale is postponed for longer than thirty (30) days beyond the date designated in the notice.
- In that event, notice thereof shall be given pursuant to § 18-50-104.
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In every such case, notice of postponement shall be given by:
- The sale is concluded when the highest bid is accepted by the person conducting the sale.
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- Unless otherwise agreed to by the trustee or mortgagee, the purchaser shall pay at the time of sale the price bid.
- Interest shall accrue on any unpaid balance of the price bid at the rate specified in the note secured by the mortgage or deed of trust.
- Within ten (10) days after the sale, the mortgagee or trustee shall execute and deliver the trustee's deed or mortgagee's deed to the purchaser.
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The mortgagee or beneficiary shall receive a credit on its bid for:
- The amount representing the unpaid principal owed;
- Accrued interest as of the date of the sale;
- Advances for the payment of taxes, insurance, and maintenance of the trust property; and
- Costs of the sale, including reasonable trustee's and attorney's fees.
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- The purchaser at the sale shall be entitled to immediate possession of the property.
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- Possession may be obtained by filing a complaint in the circuit court of the county in which the property is situated and attaching a copy of the recorded trustee's or mortgagee's deed, whereupon the purchaser shall be entitled to an ex parte writ of assistance.
- Alternatively, the purchaser may bring an action for forcible entry and detainer under § 18-60-301 et seq.
- In either event, the provisions of § 18-50-116(d) shall apply.
History. Acts 1987, No. 53, § 7; 1999, No. 983, §§ 6, 7; 2011, No. 885, § 4; 2011, No. 901, § 3.
Amendments. The 1999 amendment rewrote this section.
The 2011 amendment by No. 885 inserted present (d) and redesignated the remaining subsections accordingly; and substituted “is situated” for “lies” in present (f)(2)(A).
The 2011 amendment by No. 901 inserted “that is licensed to sell real estate under the Real Estate License Law, § 17-42-101 et seq., and licensed to act as an auctioneer under the Auctioneer's Licensing Act, § 17-17-101 et seq.” in (b)(2); inserted present (d) and redesignated the remaining subsections accordingly; and substituted “is situated” for “lies” in present (f)(2)(A).
Case Notes
Applicability.
Former statute did not apply to sales under decree of court. Martin v. Ward, 60 Ark. 510, 30 S.W. 1041 (1895); Southwestern Ark. & Indian Terr. R.R. v. Hays, 63 Ark. 355, 63 Ark. 355, 38 S.W. 665 (1897); Gregory v. Rubel, 184 Ark. 55, 41 S.W.2d 771 (1931) (preceding decisions under prior law).
Appraisement.
No deductions were to be made in the appraisement for prior liens. Ellenbogen v. Griffey, 55 Ark. 268, 18 S.W. 126 (1892) (decision under prior law).
A sale of land under a power contained in a mortgage was void where the appraisers and the justice of the peace who appointed them lived in a different county from that in which the land was located. Raines v. Graham, 70 Ark. 490, 69 S.W. 551 (1902) (decision under prior law).
A sale without appraisement was void. Craig v. Meriwether, 84 Ark. 298, 105 S.W. 585 (1907); Lesser v. Reeves, 142 Ark. 320, 219 S.W. 15 (1920) (preceding decisions under prior law).
An unaccepted offer of a mortgagor to redeem from a sale of land under a power in a mortgage which was invalid by reason of failure to comply with statutory requirements as to appraisement of the land was not a ratification of the sale, and did not prevent the mortgagee from taking steps to procure a sale at which a valid title could be obtained. Craig v. Meriwether, 84 Ark. 298, 105 S.W. 585 (1907) (decision under prior law).
Debtor's Interest.
Where property had been foreclosed on and sold before the date of the filing of the petition in bankruptcy, the debtor had no legal right or interest in the property, nor even a right of redemption; the only possible interest of the debtor, and thus of the estate, under 11 U.S.C. § 541, was what has been described by courts as a “shadowy” tenancy at sufferance. Hickman v. Union Nat'l Bank, 154 B.R. 730 (Bankr. W.D. Ark. 1993).
Effect of Noncompliance.
If a mortgagor filed a bill under the former right to redeem from a sale not made in accordance with former statute, he waived the irregularities, unless he assailed them in his bill. Dailey v. Abbott, 40 Ark. 275 (1883) (decision under prior law).
A trustee's deed was invalid when it failed to show land brought two-thirds of appraised value. Meunse v. Harper, 70 Ark. 309, 67 S.W. 869 (1902) (decision under prior law).
Where a mortgage, with power in a trustee to sell on default, provided that the trustee's deed should be taken as prima facie true and the trustee's deed recited a regular appraisement and sale of the land and there was no proof that a purchaser of the land had notice of irregularities in the appraisement or sale, the latter's title was upheld. Manchester v. Goeswich, 95 Ark. 582, 130 S.W. 526 (1910) (decision under prior law).
Finality of Sale.
A nonjudicial foreclosure sale of real property is final upon the acceptance of the highest bid when the bidder is ready, able, and in fact offering to tender the funds to the mortgagee. In re Bland, 227 B.R. 163 (Bankr. E.D. Ark. 1998).
A statutory foreclosure sale conducted pursuant to §§ 18-50-101 et seq. is complete when a trustee's or mortgagee's deed is recorded. In re Tomlin, 228 B.R. 916 (Bankr. W.D. Ark. 1999), superseded by statute as stated in, In re Cook, 253 B.R. 249 (Bankr. E.D. Ark. 2000).
Court denied bank's motion for summary judgment on its claim that a house owned by Chapter 13 debtors was not property of their bankruptcy estate because it was sold at a foreclosure sale that was conducted pursuant to this section three days before the debtors declared bankruptcy. While the bank might have been correct that the debtors lost their right of redemption under Arkansas law when the house was sold, it failed to consider the debtors' right to cure a mortgage default under 11 U.S.C. § 1322, and the debtors' house was property of their estate because the trustee had the right under Ark. Code Ann. § 18-50-116 to set aside the sale and the trustee's deed was not recorded until after the debtors declared bankruptcy. In re McAdoo, No. 5:15-bk-72690, 2016 Bankr. LEXIS 4134 (Bankr. W.D. Ark. Nov. 21, 2016).
Objections to Bankruptcy Plan.
Where the bank had foreclosed on debtor's home and was active in the debtor's bankruptcy case, the neglect in failing to object to the bankruptcy plan constituted acquiescence in the debtor's possession of the home for the life of the plan. Hickman v. Union Nat'l Bank, 154 B.R. 730 (Bankr. W.D. Ark. 1993).
Place of Sale.
Where notice of default gave as the place of sale “Sebastian County Courthouse,” which encompasses two distinct locations for the place of sale, the notice, in essence specifying two possible locations for the sale, was deficient. Henson v. Fleet Mtg. Co., 319 Ark. 491, 892 S.W.2d 250 (1995).
Purchase by Mortgagee.
A mortgagee selling under power of sale could become a purchaser when the mortgage permitted it, and the sale was in all respects fairly and faithfully conducted. Ellenbogen v. Griffey, 55 Ark. 268, 18 S.W. 126 (1892) (decision under prior law).
When mortgagee purchased at a void sale and went into possession, his status was that of a mortgagee in possession. Stallings v. Thomas, 55 Ark. 326, 18 S.W. 184 (1892) (decision under prior law).
Cited: In re Cook, 253 B.R. 249 (Bankr. E.D. Ark. 2000); In re Brown, 282 B.R. 880 (Bankr. E.D. Ark. 2002).