(a) The county judge may cause the estate to be sold at any time after seizure, in such manner as may be provided by the quorum court. In such a case, the claimants shall be entitled to the proceeds, in lieu of the real estate, upon obtaining a decree or order reclaiming the escheated property, as provided for in ยง 28-13-110.
(b) All lands escheated to the State of Arkansas under the provisions of law shall be sold in the manner provided in this section.
(c) The Commissioner of State Lands shall cause the lands to be sold by the sheriffs of the several counties in which the lands may be situated, at the courthouse door in the county, at public auction for cash, on the first day of the circuit court, but first giving four (4) weeks' notice of the time, place, and terms of the sale and published in a newspaper published in the county. If there is no newspaper therein, then publication shall be by notices posted at six (6) of the most public places in the county four (4) weeks before the day of sale.
(d) Immediately upon the receipt of the purchase money, the sheriff shall pay the purchase money over to the Treasurer of State for use of the Public School Fund of the state and report the sale and the amount for which the lands were sold to the Commissioner of State Lands who shall make and keep a record thereof in his or her office.
(e) If the Commissioner of State Lands shall find the sale to have been in conformity to law and the purchase money fully paid, he or she shall execute a deed under his or her hand and official seal conveying all the title of the state in the lands to the purchaser. The deed, duly executed, shall be admitted to record and received as evidence in all the courts of this state.
(f) As compensation for his or her services in making the sale, the sheriff shall receive two percent (2%) upon the amount of the purchase money received for the land and, also, the actual cost of advertising the sale. These amounts are to be deducted from the purchase money received at the sale.
Section: Previous 28-13-102 28-13-103 28-13-104 28-13-105 28-13-106 28-13-107 28-13-108 28-13-109 28-13-110 28-13-111 28-13-112 NextLast modified: November 15, 2016