For Sale by Owners

As Southern cities sprawl out toward the old plantations, black property owners [w]ould be in for a windfall, if it wasn’t for developers, distant relatives, and the legacy of Jim Crow.

RANDALL PATTERSONMARCH/APRIL 2007 ISSUE

http://www.motherjones.com/politics/2007/03/sale-owners-0

 

Arkansas Heir Property Act

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:

Visit full website for the Heir Property Act, as well as support personnel at this link.

See an online tutorial of Heir Property Act opportunities for Arkansas, at this link.

Download a full brochure about the Heir Property Act, at this link.

See full Heir Property Act bill, here.

See full Heir Property Act bill, here.

The Uniform Partition of Heirs Property Act (UPHPA) helps preserve family wealth passed to the next generation in the form of real property.

Affluent families can engage in sophisticated estate planning to ensure generational wealth, but those with smaller estates are more likely to use a simple will or to die intestate. For many lower- and middle-income families, the majority of the estate consists of real property. If the landowner dies intestate, the real estate passes to the landowner’s heirs as tenants-in-common under state law. Tenants-in-common are vulnerable because any individual tenant can force a partition.

See Legislative Information Kit with links to the following items:

Legislative Fact Sheet
Act Summary
Download an Enactment Kit
Why Your State Should Adopt
ABA-RPTE Support Letter
ABA-SLG Support Letter
ACREL Support Letter
CHPP Support Letter
HPRC Support Letter
LCCR Support Letter
NBA Support Letter
NBCSL Resolution
SPLC Support Letter
Tuskegee Support Letter

View Final Act

 

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