§ 18-48-801. Title

This subchapter shall be known and may be cited as the “Principal Broker Real Estate Lien Act”.

§ 18-48-802. Definitions

As used in this subchapter: (1) (A) “Base rent” means the rent designated in a lease as base rent, or a similar term, for the possession and use of commercial real estate. (B) “Base rent” does not include separate payments made by tenants for insurance, taxes, utilities, or other expenses; (2) (A) “Commercial real estate” […]

§ 18-48-803. Lien upon personal property

(a) (1) A principal broker has a lien in the amount that the owner has agreed to pay the principal broker or real estate firm under a representation agreement upon: (A) The owner’s net proceeds from the disposition of commercial real estate; and (B) The net rental proceeds from the lease of commercial real estate. […]

§ 18-48-804. Waiver of right to a lien — Action by principal broker

(a) A principal broker may waive his or her right to a lien under this subchapter in the representation agreement. (b) If a court finds that payment is due to the principal broker in an action to recover amounts due under a representation agreement in which the principal broker has waived his or her right […]

§ 18-48-805. Notice of claim of lien against proceeds

(a) A notice of claim of lien against proceeds shall state: (1) The name, address, and telephone number of the principal broker; (2) The date of the representation agreement; (3) The name of the owner of the commercial real estate; (4) The legal description of the commercial real estate as described in the representation agreement; […]

§ 18-48-806. Delivery of notice of claim of lien

(a) Except for service of a complaint under § 18-48-807 or § 18-48-808, a notice required to be delivered to a party under this subchapter shall be delivered by: (1) Any form of service of process permitted by Rule 4 of the Arkansas Rules of Civil Procedure; (2) Registered or certified mail, return receipt requested; […]

§ 18-48-807. Release of notice of claim of lien

(a) If a principal broker records a notice of claim of lien against proceeds and knows or learns that he or she is not entitled to receive compensation under the terms of the representation agreement, the principal broker shall record a written release of the notice of claim of lien against proceeds within five (5) […]

§ 18-48-808. Disputed claim — Order to show cause

(a) (1) An owner of commercial real estate may dispute a recorded notice of claim of lien against proceeds filed under this subchapter by filing a complaint in the circuit court of the county where the commercial real estate or a portion of the commercial real estate is located for an order directing the principal […]

§ 18-48-809. Priority of lien claims

If perfected prior to the recording of a notice of claim of lien against proceeds, the following liens have priority over a lien created under this subchapter: (1) Statutory liens, mortgages, deeds of trust, assignments of rents, and other encumbrances, including all advances or charges made or accruing under statutory liens, mortgages, deeds of trust, […]