Arkansas § 18-3-103 Reformation

Arkansas Statutes

§ 18-3-103 — Reformation

Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the 365 years allowed by § 18-3-101(a)(2) , § 18-3-101(b)(2) , or § 18-3-101(c)(2) if:

(1)a nonvested property interest or a power of appointment becomes invalid under § 18-3-101 ;

(2)a class gift is not but might become invalid under § 18-3-101 and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or (3) a nonvested property interest that is not validated by § 18-3-101(a)(1) can vest but not within 365 years after its creation.

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Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the 365 years allowed by § 18-3-101(a)(2) , § 18-3-101(b)(2) , or § 18-3-101(c)(2) if: (1) a nonvested property interest or a power of appointment becomes invalid under § 18-3-101 ; (2) a class gift is not but might become invalid under § 18-3-101 and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or (3) a nonvested property interest that is not validated by § 18-3-101(a)(1) can vest but not within 365 years after its creation.

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