(a) (1) (A) When after April 19, 1979, any foreign party acquires any interest in agricultural land in Arkansas by grant, purchase, adverse possession, devise, descent, or in any other manner or any agent, trustee, or fiduciary acquires title to agricultural land in Arkansas on behalf of a foreign party, the foreign party or agent, trustee, or fiduciary shall register the ownership in the office of the circuit clerk in the county in which the land is located within sixty (60) days after the acquisition.
(B) The registration shall include a description of the agricultural lands acquired and the name and business address of the foreign party which acquired the lands or in whose behalf the lands were acquired.
(2) When the acquisition of lands by a foreign party is registered with the circuit clerk as required in this section, the clerk shall record the acquisition in an appropriate foreign land ownership record book to be maintained by him or her. The clerk shall forthwith remit a copy of the registration to the Secretary of State, who shall likewise maintain a record of all registrations made under the provisions of this chapter.
(b) Any foreign party who obtains a lease of agricultural land for a term of ten (10) years or longer or a lease renewable by option for terms which, if the options were all exercised, would total ten (10) years shall be deemed to have acquired agricultural land within the meaning of this chapter.
(c) Any party who acquires or holds any interest in agricultural land in violation of this chapter shall continue to violate this chapter for as long as he or she holds an interest in the land.
(d) Nothing in this chapter shall prevent a foreign party holding a lien or other interest in agricultural land before April 19, 1979, from taking a valid title to the land by the enforcement of the lien or other existing interest, but any such interest shall be registered as required in this chapter.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.