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AR HB1889
Bill
Status
5/17/2013
Primary Sponsor
Bob Ballinger
Click for details
AI Summary
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Adds Arkansas Code § 18-12-610 establishing that unrecorded mineral interests become marketable when the surface owner has paid all surface estate taxes for at least 15 years and no taxes have been paid on the mineral interest for at least 15 years
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Requires the surface owner claiming marketable title to record an affidavit with the county recorder containing the legal description and parcel number of the surface estate, the duration of tax payments, and confirmation that mineral interest taxes remain unpaid for 15 years
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Preserves the right to file judicial actions to quiet title to mineral interests before the 15-year marketability threshold is met
Legislative Description
To Provide For The Marketability Of Title To Unrecorded Mineral Interests.
Last Action
Died in House Committee at Sine Die adjournment.
5/17/2013