Arkansas § 15-73-303 - Hearing on lease execution.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-73-303 — Hearing on lease execution., with citation guidance and answers to common questions.
§ 15-73-303. Hearing on lease execution.
The circuit court shall consider the petition, and may, in its absolute discretion, require that other persons as it deems proper be made parties to the proceeding. All proceedings under the provisions of this subchapter shall begin at any time the court shall be in session twenty (20) days after service of summons on the respondents. The court may hear oral testimony to determine whether or not the execution of the lease is advisable. It shall also determine what part of the consideration therefor, the rentals accruing thereunder, and what proportion of the oil, gas, and minerals should be allowed to the life tenant in fee simple as compensation for the damage to his or her life estate on account of the execution of the lease.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-73-303
What does Arkansas Code of 1987 Annotated § 15-73-303 cover?
Section 15-73-303 ("Hearing on lease execution.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 15-73-303?
A common citation format is "Arkansas Code of 1987 Annotated § 15-73-303" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 15-73-303 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.