8 reasons why Arkansas should adopt the Heirs Property Act

These are just some of the reasons why the Arkansas Legislature should introduce and pass the Heirs Property Act:

  • The Heirs Property Act protects a family’s property and property wealth.
  • The Heirs Property Act does not replace existing law for non heir property.
  • The Heirs Property Act does not prohibit requests for a partition by sale.
  • The Heirs Property Act requires that property be priced at fair market value if a partition by sale occurs.
  • The Heirs Property Act provides heirs who did not petition for sale a right to buy out those that do so that the family can maintain ownership of the property.
  • The Heirs Property Act requires notice be given to heirs before partition by sale.
  • The Heirs Property Act protects Heirs Property owners, especially those with low or moderate income.
  • The Heirs Property Act protects the heritage of Arkansas families.

This information is adapted from the Uniform Law Commission:

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