As between the distributees, secured debts shall be discharged out of the general assets of the estate, subject to the right of a decedent to provide otherwise by will. However, nothing in this section shall preclude a secured creditor from having recourse to his or her security for satisfaction of the debt.
Ark. Code Ann. § 28-53-113
Exoneration of encumbered property
Applied in 1 court decision — leading case Balfanz v. Estate of Balfanz (1990)
Most recently applied in Balfanz v. Estate of Balfanz (April 1990)
Acts 1949, No. 140, § 167; A.S.A. 1947, § 62-2908.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.