Ark. Code Ann. § 28-49-110 (2026)
Inventories
-
- Except as provided in this section, within two (2) months after his or her qualification or as the court may direct, a personal representative shall file a true and complete inventory of all property owned by the decedent at the time of his or her death, except such interests as terminated by reason of his or her death, describing each item of property in detail and setting out the personal representative's appraisement of the fair market value of the property as of the date of the death of the decedent.
- The personal representative shall append to the inventory his or her affidavit to the effect that the inventory is complete and accurate to the best of his or her knowledge and belief and that the personal representative was not indebted or obligated to the deceased at the time of his or her death except as stated in the inventory.
- Errors or omissions in an inventory shall be corrected by supplemental inventory or the next accounting of the personal representative or as the court may direct.
-
- The filing of inventory shall not be required if all of the distributees who are competent and the legally appointed, qualified, and acting guardians of the estates of all those incompetent have filed written waiver of inventory, unless the court finds a need for filing the inventory.
- However, if any person asserts a claim against the estate or claims an interest therein and makes written demand for the filing of an inventory, it shall be filed unless it is shown to the court that the alleged claim is invalid or has been paid or that the person alleging such an interest in the estate has, in fact, no interest therein.
- Inventories may be introduced in evidence but shall not be conclusive for or against the personal representative or any person interested in the estate. Other evidence may be admitted to vary the effect thereof.
History. Acts 1949, No. 140, §§ 91, 92; 1973, No. 39, § 1; A.S.A. 1947, §§ 62-2301, 62-2302.
Case Notes
Bond and Accounting.
Where a will provided for the appointment of a widow as the executor without giving bond and without making reports and settlements, a remainderman in the estate had no right to require a bond and an accounting from the widow, who was a life tenant, without alleging and proving mismanagement, waste, or conversion. Dillen v. Fancher, 197 Ark. 995, 125 S.W.2d 110 (1939) (decision under prior law).
Filing Requirements.
Since this section requires the filing of an inventory in a prescribed form and §§ 28-52-103 and 28-52-104 also set out requirements as to form and time of accounting, the fact that an administrator filed a “first and final report” purporting to furnish full information with respect to everything pertaining to the estate was not compliance in the manner and form required by these sections. Price v. Price, 253 Ark. 1124, 491 S.W.2d 793 (1973).
An inventory was inadequate where the personal representative failed to attach an affidavit as required by subsection (a). Eddins v. Style Optics, Inc., 71 Ark. App. 102, 35 S.W.3d 315 (2000).
Jurisdiction.
A probate court has jurisdiction to direct the executor of an estate to collect and distribute the proceeds from a rental note if the granting of a petition would be for the best interest of the estate and the devisees. Pigue v. Grooms, 248 Ark. 262, 451 S.W.2d 181 (1970).
A probate court erred in refusing to take jurisdiction of an executor's petition asking that he be directed to collect rent note for land which the testator had left to five separate devisees where the devisees were scattered geographically, the tenant would naturally demand the surrender of the note when he paid it, and devisees were unable to agree upon the distribution of the proceeds. Pigue v. Grooms, 248 Ark. 262, 451 S.W.2d 181 (1970).
Res Judicata.
Where the heirs did not perfect an appeal from a judgment of a circuit court reversing a judgment of a probate court requiring an executor to make an inventory and file accounts in a proceeding instituted by them, they could not relitigate the same question in a subsequent proceeding instituted by the probate clerk by which the heirs became parties on their own motion. Parker v. Williams, 172 Ark. 699, 290 S.W. 67 (1927) (decision under prior law).