Arkansas

Family Law

Family Law

Section 9-11-603 – Sale of real estate free of dower or curtesy – Order and deposit

(a) Upon the hearing of the petition, if the court deems it to be in the best interest of the parties that the land be sold, it may make an order that the plaintiff may sell the land free and discharged and unencumbered of the right of dower or curtesy, as the case may be.
(b) In every such order, the court shall adjudge as part of the order that before the sale shall become effective, the petitioner or his or her grantee shall deposit in the registry of the court, in cash, one-third (1/3) of the purchase price of the lands to be disposed of as provided in this section. In all such sales, the sale shall be reported to the circuit court and the sale approved thereby.
(c)

(1) The deposit of one-third (1/3) of the purchase price of the land shall be held in trust by the clerk of the court and loaned out by him or her under the order of the court from time to time at the highest obtainable rate of interest, upon security to be approved by the court or judge in vacation. The clerk shall be responsible therefor on his or her official bond.
(2) The interest on the money shall be paid over annually to the plaintiff. However, the court may make, upon application, of which the plaintiff shall be notified, and on reasonable showing, reasonable allowance out of the interest from time to time for the support of the defendant.
(d)

(1) Should the insane defendant be survived by the plaintiff, the deposit shall be paid over to the plaintiff upon the plaintiff’s application to the court. If the plaintiff survives the defendant but dies before an order of the court is actually made to pay the moneys over to the plaintiff, then the moneys shall descend to the plaintiff’s heirs at law as realty and shall be paid over to the plaintiff’s heirs or legal representatives according to law or the lawful order of the circuit court.
(2) In the event that the plaintiff is survived by the defendant, the interest accruing on the deposit shall be paid over to the defendant only during the defendant’s natural life. At the defendant’s death the deposit shall descend to the heirs at law of the plaintiff as realty and shall be paid over to the plaintiff’s heirs or legal representatives according to law or the lawful order of the circuit court.

Ark. Code § 9-11-603

Acts 1905, No. 337, §§ 2-5, p. 794; C. & M. Dig., §§ 3562-3565; Pope’s Dig., §§ 4448-4451; Acts 1981, No. 714, §§ 11-13; A.S.A. 1947, §§ 59-702 — 59-705