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Arkansas Code Title 18. Property § 18-60-1002. Definitions

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In this subchapter:

(1)(A) “Ascendant” means an individual who precedes another individual in lineage, in the direct line of ascent from the other individual.

(B) “Ascendant” includes an adoptive parent and his or her ascendants.

(2) “Collateral” means an individual who is related to another individual under § 28-9-214 but who is not the other individual's ascendant or descendant.

(3)(A) “Descendant” means an individual's child, grandchild, and any other, however remotely related to such an individual, who is in a direct line of descent from him or her, including lineal descendants and excluding ascendants and collaterals.

(B) “Descendant” includes an adopted child and his or her descendants.

(4) “Determination of value” means a court order determining the fair market value of heirs property under § 18-60-1006 or § 18-60-1010 or adopting the valuation of the property agreed to by all cotenants.

(5) “Heirs property” means real property held in tenancy in common which satisfies all of the following requirements as of the filing of a partition action:

(A) there is no agreement in a record binding all the cotenants which governs the partition of the property;

(B) one or more of the cotenants acquired title from a relative, whether living or deceased;  and

(C) any of the following applies:

(i) 20 percent or more of the interests are held by cotenants who are relatives;

(ii) 20 percent or more of the interests are held by an individual who acquired title from a relative, whether living or deceased;  or

(iii) 20 percent or more of the cotenants are relatives.

(6) “Partition by sale” means a court-ordered sale of the entire heirs property, whether by auction, sealed bids, or open-market sale conducted under § 18-60-1010.

(7) “Partition in kind” means the division of heirs property into physically distinct and separately titled parcels.

(8) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

(9) “Relative” means an ascendant, descendant, or collateral or an individual otherwise related to another individual by marriage or law of this state other than this subchapter.

Cite this article: - Arkansas Code Title 18. Property § 18-60-1002. Definitions - last updated January 01, 2020 |

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