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15-73-205. Failure to pay rental installment — Endorsement of forfeiture.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-73-205. Failure to pay rental installment — Endorsement of forfeiture.
(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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-73-205
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:15-73-205
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2d93fbe1eef9eb863a0b57ad92f68bd84acdd273da81311b03dd9d1dfc70efb3
Source location: content.xml paragraph 25038
Stored source content
15-73-205. Failure to pay rental installment — Endorsement of forfeiture.
(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.
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Arkansas Code — all titles (historical 2020) · legal_authorities
15-73-203. Forfeiture of oil, gas, or mineral leases — Duty of lessee to cancel or release.
(a) It shall be the duty of each person holding an oil, gas, or other mineral lease for prospecting and exploiting for oil, gas, or other minerals, upon any real estate in the State of Arkansas, upon forfeiting the rights to further prospect on the lands by failure to pay any rental or to perform any condition imposed by the terms of the lease on the lessee, or otherwise forfeiting the rights under the lease, upon the notice hereinafter prescribed in § 15-73-204 by the lessor, to execute a release to the grantor or otherwise remove any cloud or encumbrance on the title to the lands by reason of the forfeited lease.
(b)(1) However, it shall be sufficient if the lessee in the original lease, or his or her assignee of record, shall endorse on the margin of the record of the original lease a cancellation or release of the lease. Endorsing on the margin of the record of the original release such words as “Forfeited and Cancelled” followed by the date of entry and the signature of the owner of the lease of record, either the original lessee or the then owner by proper assignments of record, attested to by the recorder, shall be sufficient. No satisfaction or cancellation on the margin of the record shall be sufficient unless it is attested to by the recorder in person or by his or her deputy.
(2) No person shall be required to release of record any portion of an original lease which he or she does not own, but is responsible only for that portion of the lease to which he or she holds title of record.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-73-203
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. The source passage cites 15-73-203. This identifies an authority to review, not proof of applicability.