AR SB1016

Amends Arkansas Code Title 18, Chapter 27 to establish a new section defining when personal property left on land is considered abandoned following judicial sales, non-judicial foreclosure sales, or tax sales.

Personal property is deemed abandoned if the owner receives notice of the sale and fails to remove the property or notify the purchaser in writing within 30 days of the deed recording, or if the purchaser sends certified mail notice to previous occupants and the owner does not respond within 30 days of posting notice on the land.

If an owner provides written notice of their claim but does not remove the property within 30 days, the purchaser may remove and store the property at the owner's expense for no more than 30 days; property is abandoned if the owner fails to claim it and pay storage costs within that period.

Purchasers who dispose of abandoned personal property under this section are protected from liability or lawsuits.

Manufactured homes, mobile homes, and personal property with mortgages, liens, or security interests held by creditors are excluded from this abandonment provision.