If any lease executed under the provisions of this subchapter shall forfeit, expire, become cancelled, or be rescinded before the death of the life tenant, the life tenant may execute a new lease in the manner provided by this subchapter, but in that case the court shall not allow him or her any further proportion of the minerals, but may allow him or her all or any part of the consideration and the rentals as may seem to the court to be equitable and just.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 6 - Oil, Gas, and Brine
Chapter 73 - Oil And Gas Leases And Lease Interests
Subchapter 3 - Leases by Life Tenants
§ 15-73-301. Leases by persons invested with life estate
§ 15-73-302. Petition to lease by life tenant — Contents
§ 15-73-303. Hearing on lease execution
§ 15-73-304. Court determinations, orders, and appointments
§ 15-73-305. Court approval of lease and confirmation of sale
§ 15-73-307. Divestiture of contingent remaindermen's title
§ 15-73-308. Expiration, forfeiture, or cancellation of lease — New lease
§ 15-73-309. Binding conveyances by reversioner or remaindermen to life tenant or his or her lessee