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15-56-404. Court determination.
Arkansas Code — all titles (historical 2020) · legal_authorities
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 to the proceeding. The court may hear testimony to determine whether or not the execution of the lease is advisable.
(b) The court shall also determine what part of the bonus consideration paid for the lease; of the delay rentals, if any, accruing thereunder; of the other payments, if any, provided for therein; and of the royalties reserved therein and accruing thereunder, not exceeding one-half (½) of the royalties, should be awarded the life tenant as compensation for the lease upon his or her interest in the premises and for the damage to his or her life estate on account of the execution of the lease.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-56-404
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:15-56-404
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 853e7b89b619c53f751b2c26121e4e749f359abf4f01c9a988467429e21948e2
Source location: content.xml paragraph 21141
Stored source content
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 to the proceeding. The court may hear testimony to determine whether or not the execution of the lease is advisable.
(b) The court shall also determine what part of the bonus consideration paid for the lease; of the delay rentals, if any, accruing thereunder; of the other payments, if any, provided for therein; and of the royalties reserved therein and accruing thereunder, not exceeding one-half (½) of the royalties, should be awarded the life tenant as compensation for the lease upon his or her interest in the premises and for the damage to his or her life estate on account of the execution of the lease.
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