Arkansas § 28-39-302 Assignment by heir - Grant of severance rights required

Arkansas Statutes

§ 28-39-302 — Assignment by heir - Grant of severance rights required

(a)The heirs in any estate cannot assign or secure an assignment of dower or curtesy in lands in this state unless and until the heirs of the estate comply with the provisions set out in subsections (b) and (c) of this section.

(b)Before assignment of dower or curtesy can be made by the heirs as against a surviving spouse, the heirs shall first execute an agreement, or the agreement of a guardian shall be approved by the court, by which agreement the surviving spouse is given permission to sell timber on lands set aside to the surviving spouse under selective cutting practices as used or adopted by general practice in the area where the land is situated.

(c)In addition to rights granted in subsection (b) of this section, the heirs shall grant, by proper agreement, to the surviving spous

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(a) The heirs in any estate cannot assign or secure an assignment of dower or curtesy in lands in this state unless and until the heirs of the estate comply with the provisions set out in subsections (b) and (c) of this section. (b) Before assignment of dower or curtesy can be made by the heirs as against a surviving spouse, the heirs shall first execute an agreement, or the agreement of a guardian shall be approved by the court, by which agreement the surviving spouse is given permission to sell timber on lands set aside to the surviving spouse under selective cutting practices as used or adopted by general practice in the area where the land is situated. (c) In addition to rights granted in subsection (b) of this section, the heirs shall grant, by proper agreement, to the surviving spouse, the right to execute good, valid, and binding oil and gas leases covering lands set aside to the surviving spouse by which the surviving spouse shall receive the bonus money for any lease and receive the delay rentals so long as they are payable, or so long as the surviving spouse lives. (d) Should there be production of oil or gas under any lease executed by the surviving spouse, he or she shall be entitled to receive the royalty payments so long as the surviving spouse lives.

Arkansas § 28-39-302 (Assignment by heir - Grant of severance rights required) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.