§ 18-50-116. Miscellaneous provisions
(a) The procedures set forth in this chapter for the foreclosure of a mortgage or deed of trust shall not impair or otherwise affect the right to bring a judicial action to foreclose a mortgage or deed of trust. (b) A notice of default and intention to sell shall be filed within the time the […]
§ 18-50-117. Foreign corporations and other entities
No person, firm, company, association, fiduciary, or partnership, either domestic or foreign, shall avail themselves of the procedures under this chapter unless authorized to do business in this state.
§ 18-50-101. Definitions
As used in this chapter: (1) “Beneficiary” means the person named or otherwise designated in a deed of trust as the person for whose benefit a deed of trust is given or his or her successor in interest; (2) “Deed of trust” means a deed conveying real property in trust to secure the performance of […]
§ 18-50-102. Parties authorized to foreclose mortgage or deed of trust
(a) Parties authorized to foreclose a mortgage or deed of trust under this chapter are limited to: (1) A trustee or attorney-in-fact who is an active licensed member of the Bar of the Supreme Court of the State of Arkansas or a law firm among whose members includes such an attorney if the attorney or […]
§ 18-50-103. Conditions to exercise of power of sale
A beneficiary or mortgagee may not initiate a foreclosure under this chapter unless: (1) The deed of trust or mortgage is filed for record with the recorder of the county in which the trust property is situated; (2) (A) The beneficiary or mortgagee: (i) Has personal knowledge of the records and information provided under this […]
§ 18-50-104. Prerequisites for foreclosure sale — Contents of notice of sale — Persons to receive notice
(a) The trustee or mortgagee may not sell the trust property unless: (1) The mortgagee, trustee, or beneficiary has filed for record with the recorder of the county in which the trust property is situated a duly acknowledged notice of default and intention to sell containing the information required by subsection (b) of this section; […]