Ark. Code 18-13 (Horizontal Property Act)
The Horizontal Property Act (Ark. Code Ann. Sections 18-13-101 et seq., substantially updated by Act 516 of 2025) is Arkansas's condominium statute. It governs how a condominium is created by recording a master deed, and covers unit ownership, common elements, bylaws, governance, and each owner's liability for common assessments. Arkansas has no separate statute for planned community or single family lot homeowners associations, and the act itself contains no resale certificate, disclosure statement, or lender questionnaire requirement, so any such document and its fee are set by the association's own governing documents rather than by statute.
Ark. Code 18-13-116 (Liability for Expenses and Assessments)
Ark. Code Ann. Section 18-13-116 addresses what happens to unpaid assessments when a condominium unit is sold: the association's claim to unpaid assessments has priority for payment out of the sale proceeds, and the buyer becomes jointly liable with the seller for assessments owed through the date of conveyance. The section does not itself create a formal resale certificate, payoff statement, or estoppel letter requirement, a fee cap, or a delivery deadline.
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