AR HB1817

Amends Arkansas Code § 26-60-102(8) to clarify that instruments given in judicial or nonjudicial proceedings under § 18-50-101 et seq. to enforce security interests are exempt from real property transfer tax when transferring property to the same person enforcing the security interest.

Amends Arkansas Code § 26-60-102(9) to clarify that instruments given to a secured party in lieu of or to avoid judicial or nonjudicial proceedings under § 18-50-101 et seq. to enforce a security interest in real estate are exempt from real property transfer tax.

Changes language in both subsections from "any" to "a" for grammatical clarity and consistency.

Approved on April 6, 2015.