Current through Register Vol. 49, No. 2, February 2024
1.
Land Offered for Sale
A. All land offered for sale by the
Commissioner of State Lands has been certified to the State for non-payment of
taxes from the county where the land is located.
B. The State owned property being offered is
identified by legal description and/or parcel number as certified by the
county.
C. The Commissioner of
State Lands recommends that all prospective purchasers do their own research as
to the use of the land for their intended purpose and make a personal
Inspection of the property.
2.
Notice of Sale
A. A notice of sale will be published by the
Commissioner of State Lands in a newspaper having general circulation in the
county where the land is located.
B. In most cases the sale will take place in
the county where the land is located.
C. A notice of sale will be mailed to all
interested parties known to the Commissioner.
3.
Contents of the Notice of
Sale
A. The assessed value of the
land
B. The amount of taxes,
interest, penalties and other costs due on the land.
C. The legal description of the
land.
D. A list of all recorded
liens against the land that are known to the Commissioner.
E. A deadline at which time bids must be
delivered.
F. The land will be sold
to the highest bidder provided the bid is equal to the assessed value of the
land.
4.
Registration at the Sale
A.
Registration will take place prior to the time of sale as specified in the
notice.
B. No bids will be accepted
unless the bidder has registered and received a pre-numbered bid
card.
5.
Who May
Bid
Any person, corporation or association or agent thereof may bid
on the properties offered except that the Commissioner of State Lands and his
employees, the County Collector or his deputy and the Clerk of the County or
his deputy may not bid on the property or be involved in the purchase of such
property.
6.
Bidding
A. In General
1. The minimum bid price is equal to the
assessed value of the land as certified to the Commissioner of State Lands by
the County Assessor. The assessed amount is based on the year of
delinquency.
2. Each sale will be
made to the highest bidder for not less than the assessed value,
3. Successful bidders, whether bidding by
mail or at the sale, will receive receipts for their money.
B. By Mail
1. Bids by mail must be received by the
Commissioner of State Lands no later than seven (7) days prior to the date of
sale.
2. Bids by mail must be
accompanied by an amount equal to the total bid. The first one hundred dollars
($100) of such bid amount must be in cashier check or money order, the balance
may be paid by personal check.
3.
Unsuccessful bidders will be refunded in full.
4. Bids received by the Commissioner prior to
the sale date will be announced immediately preceding the oral auction of the
parcel.
C. At Auction
1. Subject to proper registration as outlined
in Rule
4, bids may be made at the oral auction on the day of the
sale.
2. Each parcel of
land will be offered separately and in the order appearing on the bid
list.
3. Successful bidders must
tender the amount bid at the time of the sale or by close of the auction. The
first one hundred dollars ($100) of such bid must be paid by money order,
cashier check or cash with the balance acceptable in personal checks.
7.
Terms of
Sale
A. All sales made through the
bidding process are conditioned on the record owner not redeeming the property
and the full purchase price being paid.
B. The full purchase price is equal to the
highest amount bid, taxes due on the property, ten percent (10%) interest, ten
percent (10%) penalty, and costs incurred by the County and the State Land
Commissioner.
C. After thirty (30)
days but no more than forty-five (45) days from the date of sate the successful
bidder must pay the balance of the taxes, interest, penalties and other costs
that make up the total purchase price,
D. Upon payment of all amounts due, the
Commissioner of State Lands will issue a limited warranty deed to the
purchaser.
E. The first one hundred
dollars ($100) of the amount tendered on the day of sale will be forfeited by
successful bidders who decline to execute their right to purchase within the
time limit set out in 7,C.
1. Redemption by
the record owner within thirty (30) days of the date of sale is an exception to
this rule.
2. In the event of
redemption, all moneys paid by the successful bidder, interest not accruing
thereon, will be refunded.
F. All cashier checks, money orders and
checks should be made payable to the Commissioner of State Lands
G. No purchase may be made on a time-payment
plan.
H. If personal checks are
used for final payment, no deeds will be issued until clearance is assured by
the bank or lending institution on which such checks are drawn.
8.
Title Being
Conveyed
Deeds are limited warranty deeds conveying all title received by
the State through tax forfeiture.
9.
Legal Action Against the
Conveyance
A. Most actions to contest
the validity of the deeds must be filed within two (2) years after the date of
conveyance {Exceptions to this rule are listed under Arkansas Statute no..
84-1129.)
B. If the sale is set
aside by legal action or if the land is proven to be nonexistent, or double
assessed, the purchaser will be entitled to a reimbursement of money paid,
interest not accruing
10.
Negotiated Sales
A. In the event no one bids at least the
minimum bid, the Commissioner of State Lands may negotiate a sale.
B. Such sales that are negotiated shall take
place at a time which will be specified at the auction and which will be held
at the offices of the Commissioner of State Lands. Prior to execution such
safes must have the approval of the Attorney General of the State of
Arkansas.
C. Provisions regarding
terms of sale and title are applicable to negotiated sales.
11.
Caveat
Nothing in these rules and regulations shall apply to the sale of
tax delinquent land which has been or will be certified to the Commissioner of
State Lands for tax years prior to 1978.