The Heir Property Act balances the rights of family members who want to retain their land with the rights of family members who want to sell. This became Arkansas law in February, 2015 and takes effect January 1, 2016. It is designed to accomplish two things:
- help families maintain ownership of their joint-owned land, but if sale is required
- ensure a court-ordered sale results in market rate return so that families do not lose wealth upon sale.
If this law is something that might assist you in retaining forest land in Arkansas, see Heir Property Act website link and resource links below: