Ark. Code § 18-4-206

Current with legislation from 2024 Fiscal and Special Sessions.

Section 18-4-206 - Persons acquiring property from slayer protected

The provisions of this subchapter do not affect the right of a person who before the interests of the slayer have been adjudicated acquires from the slayer for adequate consideration property that the slayer would have received except for the terms of this subchapter if the person acquired the property without notice of circumstances tending to make this subchapter apply provided, however, that:

(1) The consideration received by the slayer shall be held by the slayer in trust for the persons entitled to the property under this subchapter; and

(2) The slayer is liable for:

(A) Any portion of the consideration which the slayer may have transferred or dissipated; and

(B) Any difference between the actual value of the property and the amount of the consideration paid for the property.

Ark. Code § 18-4-206

Added by Act 2013, No. 1351,§ 1, eff. 8/16/2013.