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Section 15-73-402 - Petition for partition and sale - Parties — Arkansas Law | CourtGPT
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  2. Laws/
  3. Arkansas/
  4. Title 15 - Natural Resources and Economic Development (§§ 15-1-101 — 15-76-324)/
  5. Subtitle 6 - Oil, Gas, and Brine/
  6. Chapter 73 - Oil and Gas Leases and Lease Interests Sub/
  7. Subchapter 4 - Partition of Oil and Gas Lease Interests/
  8. Section 15-73-402 - Petition for partition and sale - Parties
Arkansas Legal Code

Section 15-73-402 - Petition for partition and sale - Parties

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Any such owner, or owners, desiring a sale and partition of the oil and gas leasehold interests shall file, in the circuit court of the county in which the lands or the greater part thereof lie, a written petition describing the lands in and under which the oil and gas interests lie, and shall make as parties defendant all owners of the various interests in the oil and gas lease rights on and in the lands, and the amount of interest held by each, with a prayer that the whole of the oil and gas lease rights be sold, and that the money derived from the sale be divided among the owners in proportion as their interest shall bear to the whole.Acts 1935, No. 15, § 2; Pope's Dig., § 10550; A.S.A. 1947, § 53-402.