§ 20-80-407 - Contracts or deeds. - Arkansas Statutes

20-80-407. Contracts or deeds.

(a) (1) Accepted applications will result in a contract or limited warranty donation deed between the Commissioner of State Lands and applicant for donation of tax-forfeited lands.

(2) The contract or deed, to be provided by the Commissioner of State Lands, shall provide that the applicant will have primary responsibility for the development of the donated parcel.

(3) The contract or deed shall also set out the eligiblity criteria for determining an eligible person with respect to a sale, lease, or grant of a homestead from the donated parcel and shall require the applicant to follow the eligiblity criteria in making sales, leases, or grants from the donated parcel.

(b) Upon execution of a donation deed to the applicant, the Commissioner of State Lands may no longer be an immediate party to the construction or maintenance of the parcel, except that the contract or donation deed may contain a possibility of reverter to the Commissioner of State Lands should the proposed homestead, for any reason, not develop pursuant to specifications.

(c) In addition, the contract or deed may provide the time period within which the property may be developed.