AR SB246

Allows a buyer to purchase timber from unknown or unlocatable co-owners or coheirs when at least 60% of ownership interest consents and the buyer conducts a diligent search including newspaper publication in the county.

Requires buyers to file records with the circuit clerk documenting their diligent search efforts and any timber sale contract offers made to co-owners or coheirs who refused to execute, with records maintained for 5 years.

Establishes treble damages liability for buyers who fail to conduct diligent search and inquiry or who locate co-owners but offer different contract terms than offered to other co-owners or coheirs.

Provides that non-consenting co-owners or coheirs have no liability for timber operation costs and must receive the same price paid to consenting co-owners, while consenting parties must indemnify non-consenting parties for damages from timber operations.

Defines "unknown or unlocatable co-owners or coheirs" as those who cannot be identified or located, or who were offered but refused to execute a timber sale contract.