Detailed Answer
Under Arkansas law, heirs who inherit real property typically become co-owners as tenants in common. Each co-owner holds an undivided interest in the entire property, regardless of the share inherited. Arkansas courts treat tenants in common as having equal rights to possess, use, and enjoy the property. (Ark. Code Ann. § 18-60-201)
Possession Rights
Each heir may occupy the whole property without interference from other co-owners. If one heir excludes another or restricts their use, the excluded heir can petition the court to restore possession and may claim a fair rental value for the period of exclusion. (Ark. Code Ann. § 18-60-201)
Partition Actions
When co-owners cannot agree—such as when one heir wants to sell and another wants to live on—the law allows a partition action. A partition divides or sells property to reflect each heir’s share. Arkansas law provides for partition in kind (dividing the land) or partition by sale (selling the property and dividing proceeds). Courts prefer partition in kind but may order a sale if physical division is impractical or inequitable. (Ark. Code Ann. § 18-60-201)
Buyout Options
Co-owners can avoid court by negotiating a buyout. The heir who wishes to stay can purchase the other’s share at an agreed price or based on an independent appraisal. A written agreement protects all parties and clarifies rights and responsibilities.
Disclaimer
This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.
Helpful Hints
- Review probate documents to confirm each heir’s ownership share.
- Consider mediation or negotiation to reach a fair buyout without litigation.
- Obtain a property appraisal before sale or buyout discussions.
- Keep written records of any agreements among co-owners.
- If negotiations stall, consult an attorney about filing a partition action.