A sale made by a mortgagee or trustee shall foreclose and terminate all interest in the trust property of all persons to whom notice is given under § 18-50-104 and of any other person claiming by, through, or under the person. A failure to give notice to any person entitled to notice shall not affect the validity of the sale as to persons notified.
A person entitled to notice, but not given notice, shall have the rights of a person not made a defendant in a judicial foreclosure.
A sale shall terminate all rights of redemption, and no person shall have a right to redeem the trust property after a sale, notwithstanding that the deed to and possession of the trust property have yet to be delivered.
No notice shall be required to be given to any person claiming an interest subsequent to the filing of the notice of default and intention to sell as set forth in § 18-50-104.
The filing of the notice of default and intention to sell shall have the same force and effect as the filing of a lis pendens in a judicial proceeding.
Amendments.
The 1999 amendment deleted “or the attorney for the mortgage or trustee” following “trustee” in the first sentence in (a); and added the language following “after a sale” in (b).
Case Notes
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).
Redemption.
As to right of redemption under former statute, see Wood v. Holland, 64 Ark. 104, 40 S.W. 704 (1897); Allen v. Swoope, 64 Ark. 576, 44 S.W. 78 (1898); Danenhauer v. Dawson, 65 Ark. 129, 46 S.W. 131 (1898); Fields v. Danehower, 65 Ark. 392, 46 S.W. 938 (1898); Lambright v. Bales, 139 Ark. 48, 213 S.W. 2 (1919); Modica v. Combs, 158 Ark. 149, 249 S.W. 567 (1923) (preceding decisions under prior law).
As to entitlement to rents and profits under former right of redemption, see Dailey v. Abbott, 40 Ark. 275 (1883); Danenhauer v. Dawson, 65 Ark. 129, 46 S.W. 131 (1898); Adler-Goldman Comm'n Co. v. Herren, 65 Ark. 229, 45 S.W. 543 (1898); North Am. Trust Co. v. Burrow, 68 Ark. 584, 60 S.W. 950 (1901) (preceding decisions under prior law).
Tenant at Sufferance.
At common law the rightful owner of property had an election to evict a tenant at sufferance. Hickman v. Union Nat'l Bank, 154 B.R. 730 (Bankr. W.D. Ark. 1993).
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).
Notes of Decisions
Cited in 8
cases (2 in the last 5 years), 1998–2025 · leading case: In re Tomlin, 228 B.R. 916 (Bankr. E.D. Ark. 1999).
In re Tomlin, 228 B.R. 916 (Bankr. E.D. Ark. 1999). · cites it 4דArk.Code Ann. § 18-50-107(d) & (e) (Michie Supp.”
In re Cook, 253 B.R. 249 (Bankr. E.D. Ark. 2000). · cites it 5דFinally, section 18-50-108, governing the effect of sale, was amended to provide: A sale shall terminate all rights of redemption, and no person shall have a right to redeem the trust property after a sale, notwithstanding that the deed to and possession of the trust property…”
In re Jenkins, 422 B.R. 175 (Bankr. E.D. Ark. 2010). · cites it 2דArk. Code Ann. § 18-50-108 (b)(Michie 2003).”
In re Bland, 227 B.R. 163 (Bankr. E.D. Ark. 1998). · cites it 2ד* * * Ark.Code Ann. § 18-50-108(a), (b) (Mitchie Supp.”
Citibank, N.A. v. Carruth, 2015 Ark. App. 704. · cites it 2דArkansas Code Annotated section 18-50-108(a)(2) provides that a person entitled to notice, but not given notice, shall have the rights of a person not made a defendant in a judicial foreclosure.”
George Randall Wright v. Arkstone Real Est. Fund & Quanta Fin., LLC, 2025 Ark. App. 89, 706 S.W.3d 754. · cites it 2דWright states that under the Act, a sale made by a mortgagee or trustee “shall foreclose and terminate all interest in the trust property,” Ark. Code Ann. § 18-50-108 (a)(1) (Repl. 2015), and that trust property is “the property encumbered by a mortgage or trust.”
Alpe v. Fed. Nat'l Mortg. Ass'n, No. 4:18-cv-00035 (E.D. Ark. Jan. 10, 2024). “§ 18-50-108(b). The ASFA specifies that the statutory foreclosure scheme does not impair the right of any person to assert legal and equitable rights in court, id.”
Marie King, No. 4:19-bk-16475 (Bankr. E.D. Ark. Apr. 30, 2020). “§ 18-50-108(a)(1) (2020) “Within ten (10) days after the sale, the mortgagee or trustee shall execute and deliver” a trustee or mortgagee’s deed (used interchangeably) to the buyer.”
Ark. Code Ann. § 18-50-108(a): 3 cases
In re Tomlin, 228 B.R. 916 (Bankr. E.D. Ark. 1999). “Ark.Code Ann. § 18-50-107(d) & (e) (Michie Supp.”
In re Cook, 253 B.R. 249 (Bankr. E.D. Ark. 2000). “Finally, section 18-50-108, governing the effect of sale, was amended to provide: A sale shall terminate all rights of redemption, and no person shall have a right to redeem the trust property after a sale, notwithstanding that the deed to and possession of the trust property…”
In re Bland, 227 B.R. 163 (Bankr. E.D. Ark. 1998). “* * * Ark.Code Ann. § 18-50-108(a), (b) (Mitchie Supp.”
Ark. Code Ann. § 18-50-108(a)(1): 1 case
Marie King, No. 4:19-bk-16475 (Bankr. E.D. Ark. Apr. 30, 2020). “§ 18-50-108(a)(1) (2020) “Within ten (10) days after the sale, the mortgagee or trustee shall execute and deliver” a trustee or mortgagee’s deed (used interchangeably) to the buyer.”
Ark. Code Ann. § 18-50-108(a)(2): 1 case
Citibank, N.A. v. Carruth, 2015 Ark. App. 704. “Arkansas Code Annotated section 18-50-108(a)(2) provides that a person entitled to notice, but not given notice, shall have the rights of a person not made a defendant in a judicial foreclosure.”
Ark. Code Ann. § 18-50-108(b): 3 cases
In re Tomlin, 228 B.R. 916 (Bankr. E.D. Ark. 1999). “Ark.Code Ann. § 18-50-107(d) & (e) (Michie Supp.”
In re Cook, 253 B.R. 249 (Bankr. E.D. Ark. 2000). “Finally, section 18-50-108, governing the effect of sale, was amended to provide: A sale shall terminate all rights of redemption, and no person shall have a right to redeem the trust property after a sale, notwithstanding that the deed to and possession of the trust property…”
Alpe v. Fed. Nat'l Mortg. Ass'n, No. 4:18-cv-00035 (E.D. Ark. Jan. 10, 2024). “§ 18-50-108(b). The ASFA specifies that the statutory foreclosure scheme does not impair the right of any person to assert legal and equitable rights in court, id.”
Annotations are extracted automatically from the opinions in the
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treatment. Dots show Syfertize treatment of the citing case itself.