Arkansas Code Title 15, Subtitle 5, Chapter 56, Subchapter 4 - Leases by Life Tenants

• § 15-56-401 - Exemptions.
  This subchapter shall not apply to the execution of oil and gas leases and shall in no wise infringe upon or affect the provisions...
• § 15-56-402 - Authority to Execute Leases.
  Whenever any land in this state is devised by will or conveyed by grant to any person by any language which at common law...
• § 15-56-403 - Petition to Lease by Life Tenant -- Contents.
  (a) Whenever any life tenant shall desire to lease any land for the production of any minerals, other than oil and gas, he or...
• § 15-56-404 - Court Determination.
  (a) The court shall consider the petition and may in its absolute discretion require that other persons as it deems proper be made parties...
• § 15-56-405 - Court Order -- Disposition of Royalties.
  (a) If the court after hearing as provided in § 15-56-404 shall determine that the lease should be executed, the judge shall enter an...
• § 15-56-406 - Trustee.
  (a) The trustee shall be under the continuing control of the circuit court. The court may remove the trustee at will, and upon the...
• § 15-56-407 - Confirmation of Lease by Court -- Effect.
  (a) After the trustee has executed the bond required by the court, the life tenant shall execute and present to the court for its...
• § 15-56-408 - Divestiture of Contingent Remaindermen's Title.
  The order of the court fixing the proportionate part of the consideration, rentals, other payments, if any, and royalties reserved in and accruing under...
• § 15-56-409 - Service of Process on Respondents -- Hearing on Petition.
  Service of process shall be had upon the respondents in the manner provided by law as in other chancery cases, and the petition may...

Last modified: November 15, 2016