The Arkansas Waiver of Preferential Right to Purchase is a legal document that allows a property owner to waive their right to purchase a property before it is offered to other prospective buyers. This waiver eliminates the preferential treatment the property owner would otherwise have in purchasing the property over others. In Arkansas, there are two main types of waivers of preferential right to purchase: 1. Voluntary Waiver: This type of waiver is commonly used when the property owner is willing to forgo their right to purchase the property. The property owner voluntarily waives their preferential right, allowing the property to be sold to other interested buyers without any obligation on the owner's part to purchase it first. 2. Unilateral Waiver: In some cases, a property owner may be required to waive their preferential right to purchase by a court order or as part of a legal settlement. This type of waiver is imposed on the property owner and is not based on their voluntary decision. The court or settlement terms may specify the conditions and timeline for the waiver. The Arkansas Waiver of Preferential Right to Purchase is an important document in the real estate market as it allows for fair and equitable opportunities for interested buyers. By waiving their preferential right, property owners ensure that the property is available to a wider pool of potential buyers, potentially increasing the market value. It also facilitates smoother and timely property transactions. Keywords: Arkansas, waiver, preferential right, purchase, property owner, voluntary, unilateral, real estate market, prospective buyers, court order, settlement terms, equitable opportunities, property transactions.
Arkansas Waiver of Preferential Right to Purchase
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The primary collection of laws governing Arkansas procurement can be found in Title 19, Chapter 11, Subchapter 2 of the Arkansas Code Annotated titled ?Arkansas Procurement Law.? With certain exceptions, Arkansas Procurement Law applies to every State agency expenditure of public funds under any contract.
In compliance with Arkansas Code Annotated § 19-11-104, the State must have a copy of the anticipated Contractor's Equal Opportunity (EO) Policy prior to issuing a contract award.
§ 19-11-801. Architects and engineers are selected through the use of requests for qualifications or requests for proposals and may not be selected only on the basis of price. Before signing a contract with an architect or engineer, a campus or unit must comply with the following Board policies.
(a) A nonvested property interest is invalid unless: (1) when the interest is created, it is certain to vest or terminate no later than 21 years after the death of an individual then alive; or. (2) the interest either vests or terminates within 90 years after its creation.
Attorney's fees. (a) A provision in a promissory note for the payment of reasonable attorney's fees, not to exceed ten percent (10%) of the amount of principal due, plus accrued interest, for services actually rendered in ance with its terms is enforceable as a contract of indemnity.
State agencies, including exempt agencies, may enter into contracts which contemplate the payment of interest and late charges, but only when such late charges are incurred sixty (60) days after payment is due or carrying charges under such rules as may be promulgated by the State Procurement Director.
(A) A cooperative purchasing agreement is limited to commodities and services for which the public procurement unit may realize savings or material economic value, or both.
