How to Prepare a Jointly Owned Property for Sale Before a Foreclosure Hearing in Arkansas
Preparing a Jointly Owned Property for Sale Before a Foreclosure Hearing Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation. Detailed Answer 1. Identify the Ownership Structure Before any sale, confirm whether co-owners hold the property as joint tenants or […]
Read article →How to Coordinate Realtor Selection with a Co-Owner for a Joint Property Sale in Arkansas
Guide to Coordinating Realtor Selection with a Co-Owner for a Joint Property Sale Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation. Detailed Answer 1. Review Your Co-Ownership Agreement Start by examining any written co-ownership or partnership agreement. It may […]
Read article →How to Calculate and Recover Carrying Costs from a Co-Owner in a Joint Sale Agreement in AR
Disclaimer: This content is for educational purposes and does not constitute legal advice. Detailed Answer In Arkansas, co-owners of real property share carrying costs equally unless a written agreement states otherwise. Carrying costs include mortgage payments (principal and interest), property taxes, insurance premiums, maintenance and repair expenses, homeowner association dues, and utilities. One co-owner who […]
Read article →What options exist for selling or transferring real property when an heir is a minor child and cannot consent? (AR)
Detailed Answer When an heir is a minor, Arkansas law prohibits them from executing a binding real estate sale or transfer on their own. The court must protect the minor’s interest. Here are the primary routes: 1. Appointment of a Guardian of the Estate A parent, relative, or interested party can petition the probate court […]
Read article →AR: What Rights Do Co-Owners Have When One Heir Lives in an Inherited Property and Another Wants to Sell?
Detailed Answer Under Arkansas law, heirs who inherit real property typically become co-owners as tenants in common. Each co-owner holds an undivided interest in the entire property, regardless of the share inherited. Arkansas courts treat tenants in common as having equal rights to possess, use, and enjoy the property. (Ark. Code Ann. § 18-60-201) Possession […]
Read article →What Steps Are Required to Initiate or Consent to a Partition Action Before a Court-Appointed Commissioner in Arkansas?
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Always consult a qualified attorney about your specific situation. Detailed Answer Under Arkansas law, a partition action divides co-owned real property among co-tenants or orders its sale. A court-appointed commissioner oversees the physical division or sale. The following steps outline how […]
Read article →What options exist if co-owners cannot agree on a buyout price in Arkansas, including court-ordered partition or sale?
Detailed Answer When co-owners of Arkansas real estate cannot agree on a buyout price, state law provides several remedies. You may pursue negotiation, mediation or appraisal to set a fair value. If those fail, you can ask the court for a partition under Arkansas Code Title 16, Chapter 65. A partition action forces either: Partition […]
Read article →What process allows a party to force sale of property through a partition hearing in Arkansas?
What Process Allows a Party to Force Sale of Property Through a Partition Hearing? Disclaimer: This article does not provide legal advice. It is for informational purposes only. Detailed Answer Under Arkansas law, co-owners of real estate have a right to seek a court-ordered partition when they cannot agree on use, management, or disposition of […]
Read article →What legal process allows a co-owner to force the sale of jointly inherited property in Arkansas?
Detailed Answer When two or more people inherit real property together, Arkansas law lets any co-owner force a sale through a partition action. Under Arkansas Code Title 18, Chapter 11, co-owners can ask the circuit court to divide property physically or, if dividing on the ground isn’t practical, to sell it and split the proceeds. 1. Who […]
Read article →How does a partition action work to resolve a dispute among multiple owners in Arkansas?
Detailed Answer Under Arkansas law, a partition action lets multiple owners of real property (tenants in common) resolve disputes over use or ownership shares. Each co-owner has an undivided interest in the whole property. When co-owners cannot agree, any one of them may seek a judicial partition under Ark. Code Ann. § 18-60-101. The court […]
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