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Timber and Minerals
The dollar amount of the
intestate estate that can be attributed to the "sale of
timber, oil and gas or other mineral leases, oil and gas or
other mineral royalty or mineral sales" derived from property in
which the surviving spouse has an unrelinquished dower, curtesy,
or homestead interest is entered for this question.
When the
decedent has a surviving spouse and any children, Arkansas
divides these interests among them separately from the division
of the intestate estate's real estate and personal property.
However, as the proportion is identical to that of the remainder
of the estate (one-third), this calculation is performed more
out of interest than necessity. (A $100,000 estate
provides the surviving spouse with $33,333. A $100,000
estate, of which $10,000 is attributed to the above provides the
surviving spouse with $30,000 plus $3,333.)
As part of this, the surviving spouse
receives one-third of the royalties attributed to production
upon lands in which he or she derives an interest based upon
"dower, curtesy, or homestead" rights, which amounts may be
incorporated into the above figures for the same reasons noted
above.
If a person dies leaving a surviving spouse
and a child or children, the surviving spouse shall be entitled,
absolutely and in his or her own right, to one-third (1/3) of
all money received from the sale of timber, oil and gas or other
mineral leases, oil and gas or other mineral royalty or mineral
sales, and to one-third (1/3) of the money derived from any and
all royalty run to the credit of the royalty owners from any oil
or gas well or to royalty accruing from the production of other
mines or minerals in lands in which he or she has a dower,
curtesy, or homestead interest, unless the surviving spouse
shall have relinquished same in legal form.
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