§ 15-73-205 — Failure to pay rental installment - Endorsement of forfeiture

Arkansas § 15-73-205

• Jurisdiction: Arkansas
• Title: 15

Text

(a) If any installment of rental due under a lease is not paid when due according to the terms of the original lease, thus causing a forfeiture and termination of the lease, the then-owner of the fee in the lands affected may endorse on the margin of the record of the original lease a statement to the effect that the rental has not been so paid and that the lease therefore is forfeited, which endorsement shall be signed by the landowner and dated and attested by the recorder, and shall be notice binding upon all subsequent purchasers or holders under the original lease, and shall be prima facie evidence of the termination and forfeiture of the lease. (b) (1) Provided, if any person shall wrongfully or falsely make the endorsement, or cause the endorsement to be made, he or she shall be liable for double damages to any person injured or damaged thereby. (2) Provided further, this section shall not relieve the owner of the lease from the duty of clearing the record as provided by § 15-73-203 .

Legislative History

Acts 1923, No. 170, § 3; Pope's Dig., § 10507; A.S.A. 1947, § 53-314.