Arkansas Tax Deeds

Comments(4)

• 
  StatHaldol16th May, 2004

  Hi Kim!
  I'm not completely sure but I think the 90 day period applies only to properties within subdivisions. I've been to a couple of auctions in South Arkansas and I believe the 2 year rule still applies to "rural" land. Perhaps others could share more light to the title insurance question.
  Mike in North Louisiana

• 
  kimlaughter17th May, 2004

  thanks Mike! I think you may be right about that. Seems as though I have read that also I am new to the tax deed thing, but have been doing foreclosures for awhile. I have put bids in on several houses...just waiting on the 30 day thing. Thanks again for your help!

• 
  SteveSch17th May, 2004

  Hi,
  
  First I don't work Arkansas at this time. I hope the pros will give better answers.
  
  Arkansas has no redemption period after you get the deed.
  
  After you buy, or bid, a property the owner is given 30 days to pay up or the new buyer gets it.
  
  From the FAQs on their web site on redemption.
  
  "After one year, delinquent property is certified to the State Land office and can be redeemed through a petitioning process for an additional two years.
  
  If the property is not redeemed during the two-year period, a public sale will be held and the property will be sold to the highest responsible bidder...."
  
  Steve

• 
  bben23rd May, 2004

  Hi Kim,
  
  I want to share with you the information I got about 90 days waiting period.
  
  Act 1215 Of 2003 Shortens time period to challenge negotiated sales.
  
  Act 1215 of 2003 ( SB 763), sponsored by Senator Tracy Steele, changes significantly the amount of time allowed to challenge the conveyance to a purchaser of a subdivided lot sold at a negotiated sale under 26-37-202(b).
  Previously, an action to challenge could be brought within two years of the sale.
  This act changes the waiting period to 90 days after the date of the conveyance. After 90 days , no action may be filed. This applies to negotiated sales of tax-forfeited property that occur on or after October 1,2003 and two years past the original auction date.
  
  I hope this can help.
  
  Ben