Main Line: 479.443.2705
Fax Line: 479.443.2718
Email: info@rmp.law
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
Main Line: 479.443.2705
Fax Line: 479.443.2718
Email: info@rmp.law
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
On Tuesday, the Federal Trade Commission issued a new Rule putting an end to employment-related non-compete clauses. In its justification for the rule, the FTC called non-compete clauses “an unfair method of competition” and stated it is a “violation for [employers] to… enter into non-compete clauses (“non-competes”) with workers.” In today’s very competitive labor market, the new FTC Rule creates a significant disruption for employers.
This new FTC provision—set to take effect in 120 days—renders existing non-compete agreements unenforceable. Existing non-compete agreements with senior executives will remain enforceable, although employers cannot require newly hired senior executives to sign such an agreement.
After the Rule takes effect, employers are required to deliver personal notice to employees (past and present) who signed a non-compete agreement informing them agreements are no longer enforceable. In the notice, employers must inform employees they are free to accept any job or start any business, even if it is directly competitive with the employer.
Compliance with the FTC Rule is not optional. Employers should consider new ways they can protect against a former employee gaining a competitive advantage by using the employer- provided training, the relationships made possible by the employer, or the confidential information learned from the employer. RMP can assist you in navigating this disruption and can provide advice on how to most effectively protect your vital business interests going forward.
RMP Attorneys At Law has an experienced Employment Law Attorney team dedicated to helping you navigate these changes. If you have any questions or would like guidance, reach out to one of our employment attorneys, Tim Hutchinson, Seth Haines, Larry McCredy, or Taylor Baltz or call 479.443.2705.
Real property can be one of the most valuable assets in an estate. It can also be one of the most difficult to manage.
In Arkansas, inherited real estate may include a family home, farmland, rental property, commercial property, vacation property, or raw land that has been passed down for generations. Family members may assume the property can be sold, transferred, rented, or divided right away. In many cases, however, the next steps depend on how the property was titled, whether probate is required, whether there is a will or trust, and whether all heirs agree on what should happen next.
Before selling or transferring inherited real property in Arkansas, families should understand the legal, financial, and practical issues that can affect the process.
Real estate is different from many other estate assets. Financial assets, such as cash held in a bank account or proceeds from a life insurance policy, are easily divided. Personal property can often be divided informally. Real estate, by contrast, cannot be so readily split among beneficiaries and often requires more formal steps.
Real property has a recorded title. That title must be clear before the property can usually be sold, refinanced, or transferred. If the deceased person held title to the property in his or her individual name, and no beneficiary deed had been executed and recorded before the deceased person’s death, providing for the transfer-on-death to a designated beneficiary, the property will generally need to pass to the heirs through probate before title can be conveyed.
Accordingly, families should be careful about assuming that a deed, a will, or an informal family agreement is enough to transfer ownership. Matters must be properly arranged, and formalities carefully adhered to, to ensure real property passes as planned.
RThe first step is usually to determine how the property was titled at the time of death.
Property may have been owned:
The title determines what legal steps may be required.
For example, if the property was owned jointly with survivorship rights, it will pass automatically to the surviving owner without being subject to the probate process, unlike property owned only in the deceased person’s name. If the property was held in a trust, the trustee will have authority to handle the property according to the trust terms. If the property was owned by a business entity, the company’s governing documents may control what happens next.
If title is unclear, any sale or transfer may be delayed until the issue is resolved.
Not always.
Real property may avoid probate if it was already structured to transfer outside of probate. This can be accomplished in a number of ways, such as owning the property in a trust or ensuring a beneficiary deed was filed before the owner’s death. However, if the property was titled only in the deceased person’s name without a beneficiary deed of record, probate will be necessary to transfer legal ownership.
Probate is the court-supervised process for administering certain assets not otherwise transferred by operation of law, beneficiary designation, or other nonprobate mechanism after death. The probate process involves appointing a personal representative, identifying estate assets, notifying interested parties, addressing valid debts, and distributing property according to a will or, if there is no will, Arkansas law.
The Arkansas Judiciary provides official probate forms, including small estate forms and other probate-related materials, on its website: Official Probate Forms | Arkansas Judiciary. However, real estate can make even a seemingly simple estate more complicated, especially if heirs do not agree on how to handle the property or if unrelated third parties, such as a title company or a lender, require additional documentation concerning the property.
A will by itself does not transfer title to real property immediately, even if it states specifically who should receive the real property. The will simply instructs the probate court on how the property should be administered through the probate process.
If the real property is part of the probate estate, the will must first be admitted to probate before the personal representative can act with legal authority as to the property. The court will then appoint the personal representative, and certain steps may be required before property can be sold or distributed, such as requesting the court’s approval for the sale of the property.
This is an important point for families. Being named in a will does not mean the beneficiary immediately owns the property and can then sell the property, move into the property, rent it out, or transfer it to someone else.
Real estate may be sold during probate in appropriate circumstances, but the If someone dies without a will, the person is considered to have died intestate. In that situation, Arkansas law determines who inherits.
This can create unexpected results, especially in situations involving second marriages, blended families with children from prior relationships, unmarried partners, or situations in which family members assumed the property would go to a particular person.
When multiple heirs inherit the same property, each person has an interest, meaning each person has a say in decisions regarding the property. This can make decisions more difficult. One heir may want to sell. Another may want to keep the property. Another may wish to live in the home. Another may not want to pay expenses. These disagreements can delay the estate and create long-lasting conflict.
Selling inherited property is possible, but it is important to make sure the person signing the contract and deed has proper authority.
A sale may require:
If the property is administered through probate, the title company may require copies of the probate documents before closing. If the estate documents are incomplete, unclear, or disputed, the closing may be delayed.
Families should be especially careful about signing contracts before confirming who has authority to sell.
Some families do not want to sell inherited property. They may wish to keep the home, transfer the land to the next generation, divide the family property, or place the property into an entity or trust for streamlined management moving forward.
Any of these options can be a good long-term goal, but the administration should be handled carefully.
Transferring inherited real estate to one or more family members may raise questions such as:
A transfer that seems simple now can create problems years later if the deed, legal description, or probate or administration process is not handled correctly.
Inherited property may come with financial obligations.
Before selling or transferring the property, families should review:
If these expenses are ignored, the property may lose value or create legal issues for the estate or the heirs.
In some cases, a personal representative may need to use estate funds to maintain the property. In other cases, such as when the estate lacks liquidity but the family members desire to retain the property, family members may need to decide whether they are willing and able to pay ongoing costs while the estate is pending.
One of the most common probate-related real estate issues is title uncertainty. A property may not be marketable until the appropriate probate It is not uncommon for one family member to live in inherited property after a loved one dies. Sometimes that person was already living there. Sometimes, for one reason or another, a family member moves in after the death.
This can create difficult questions.
Does the person have a right to remain in the property? Should rent be paid? Who pays for utilities, taxes, insurance, and repairs? Can the property be sold while someone is living there? What if other heirs object?
These issues should be addressed carefully. Informal arrangements may work for a short time, but they can very quickly become a source of conflict, especially if the estate needs to sell the property or distribute value among multiple heirs.
Inherited land can be especially complex in Arkansas because of the state’s natural landscape. Some families own farmland, timberland, hunting land, or mineral interests; other families simply own property that has been passed down through several generations and that they wish to retain in the family for future generations.
In addition to the factors previously referenced, these properties may involve:
When family land is involved, the legal issues are often more closely tied to emotional concerns. A property may have financial value, but it may also represent family history. Clear guidance from an attorney can help families manage expectations and avoid unnecessary disputes.
Inherited real estate can create problems when families act before confirming the legal status of the property.
Common mistakes include:
These mistakes can create delays, disputes, and unnecessary costs.
Issues with inherited property often arise during a stressful time. Families may be grieving, dealing with funeral arrangements, sorting through personal belongings, and trying to understand legal responsibilities all at once.
At the same time, real estate decisions can have long-term consequences. Selling too quickly, delaying too long, or transferring property incorrectly can affect the estate, the heirs, and the future marketability of the property.
The best time to address these issues is before family disagreements escalate, before the property is transferred, and before a title problem delays the closing of a sale.
You may want legal guidance if:
RMP Law assists Arkansas families, with experience representing personal representatives, trustees, beneficiaries, heirs and other interested persons, with probate estate and trust administration, real estate issues, and related disputes.
If you have questions about inherited property in Arkansas, contact RMP Law at 479-443-2705 or use our Message Us form.
Main RMP Number: 479-443-2705
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
DISCLAIMER: The information provided on this website does not constitute legal advice. Instead, all information, content, and materials available on this site are for general informational purposes. Information on this website may not constitute the most up-to-date legal or other information. Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter.
Real property can be one of the most valuable assets in an estate. It can also be one of the most difficult to manage.
In Arkansas, inherited real estate may include a family home, farmland, rental property, commercial property, vacation property, or raw land that has been passed down for generations. Family members may assume the property can be sold, transferred, rented, or divided right away. In many cases, however, the next steps depend on how the property was titled, whether probate is required, whether there is a will or trust, and whether all heirs agree on what should happen next.
Before selling or transferring inherited real property in Arkansas, families should understand the legal, financial, and practical issues that can affect the process.
Real estate is different from many other estate assets. Financial assets, such as cash held in a bank account or proceeds from a life insurance policy, are easily divided. Personal property can often be divided informally. Real estate, by contrast, cannot be so readily split among beneficiaries and often requires more formal steps.
Real property has a recorded title. That title must be clear before the property can usually be sold, refinanced, or transferred. If the deceased person held title to the property in his or her individual name, and no beneficiary deed had been executed and recorded before the deceased person’s death, providing for the transfer-on-death to a designated beneficiary, the property will generally need to pass to the heirs through probate before title can be conveyed.
Accordingly, families should be careful about assuming that a deed, a will, or an informal family agreement is enough to transfer ownership. Matters must be properly arranged, and formalities carefully adhered to, to ensure real property passes as planned.
RThe first step is usually to determine how the property was titled at the time of death.
Property may have been owned:
The title determines what legal steps may be required.
For example, if the property was owned jointly with survivorship rights, it will pass automatically to the surviving owner without being subject to the probate process, unlike property owned only in the deceased person’s name. If the property was held in a trust, the trustee will have authority to handle the property according to the trust terms. If the property was owned by a business entity, the company’s governing documents may control what happens next.
If title is unclear, any sale or transfer may be delayed until the issue is resolved.
Not always.
Real property may avoid probate if it was already structured to transfer outside of probate. This can be accomplished in a number of ways, such as owning the property in a trust or ensuring a beneficiary deed was filed before the owner’s death. However, if the property was titled only in the deceased person’s name without a beneficiary deed of record, probate will be necessary to transfer legal ownership.
Probate is the court-supervised process for administering certain assets not otherwise transferred by operation of law, beneficiary designation, or other nonprobate mechanism after death. The probate process involves appointing a personal representative, identifying estate assets, notifying interested parties, addressing valid debts, and distributing property according to a will or, if there is no will, Arkansas law.
The Arkansas Judiciary provides official probate forms, including small estate forms and other probate-related materials, on its website: Official Probate Forms | Arkansas Judiciary. However, real estate can make even a seemingly simple estate more complicated, especially if heirs do not agree on how to handle the property or if unrelated third parties, such as a title company or a lender, require additional documentation concerning the property.
A will by itself does not transfer title to real property immediately, even if it states specifically who should receive the real property. The will simply instructs the probate court on how the property should be administered through the probate process.
If the real property is part of the probate estate, the will must first be admitted to probate before the personal representative can act with legal authority as to the property. The court will then appoint the personal representative, and certain steps may be required before property can be sold or distributed, such as requesting the court’s approval for the sale of the property.
This is an important point for families. Being named in a will does not mean the beneficiary immediately owns the property and can then sell the property, move into the property, rent it out, or transfer it to someone else.
Real estate may be sold during probate in appropriate circumstances, but the If someone dies without a will, the person is considered to have died intestate. In that situation, Arkansas law determines who inherits.
This can create unexpected results, especially in situations involving second marriages, blended families with children from prior relationships, unmarried partners, or situations in which family members assumed the property would go to a particular person.
When multiple heirs inherit the same property, each person has an interest, meaning each person has a say in decisions regarding the property. This can make decisions more difficult. One heir may want to sell. Another may want to keep the property. Another may wish to live in the home. Another may not want to pay expenses. These disagreements can delay the estate and create long-lasting conflict.
Selling inherited property is possible, but it is important to make sure the person signing the contract and deed has proper authority.
A sale may require:
If the property is administered through probate, the title company may require copies of the probate documents before closing. If the estate documents are incomplete, unclear, or disputed, the closing may be delayed.
Families should be especially careful about signing contracts before confirming who has authority to sell.
Some families do not want to sell inherited property. They may wish to keep the home, transfer the land to the next generation, divide the family property, or place the property into an entity or trust for streamlined management moving forward.
Any of these options can be a good long-term goal, but the administration should be handled carefully.
Transferring inherited real estate to one or more family members may raise questions such as:
A transfer that seems simple now can create problems years later if the deed, legal description, or probate or administration process is not handled correctly.
Inherited property may come with financial obligations.
Before selling or transferring the property, families should review:
If these expenses are ignored, the property may lose value or create legal issues for the estate or the heirs.
In some cases, a personal representative may need to use estate funds to maintain the property. In other cases, such as when the estate lacks liquidity but the family members desire to retain the property, family members may need to decide whether they are willing and able to pay ongoing costs while the estate is pending.
One of the most common probate-related real estate issues is title uncertainty. A property may not be marketable until the appropriate probate It is not uncommon for one family member to live in inherited property after a loved one dies. Sometimes that person was already living there. Sometimes, for one reason or another, a family member moves in after the death.
This can create difficult questions.
Does the person have a right to remain in the property? Should rent be paid? Who pays for utilities, taxes, insurance, and repairs? Can the property be sold while someone is living there? What if other heirs object?
These issues should be addressed carefully. Informal arrangements may work for a short time, but they can very quickly become a source of conflict, especially if the estate needs to sell the property or distribute value among multiple heirs.
Inherited land can be especially complex in Arkansas because of the state’s natural landscape. Some families own farmland, timberland, hunting land, or mineral interests; other families simply own property that has been passed down through several generations and that they wish to retain in the family for future generations.
In addition to the factors previously referenced, these properties may involve:
When family land is involved, the legal issues are often more closely tied to emotional concerns. A property may have financial value, but it may also represent family history. Clear guidance from an attorney can help families manage expectations and avoid unnecessary disputes.
Inherited real estate can create problems when families act before confirming the legal status of the property.
Common mistakes include:
These mistakes can create delays, disputes, and unnecessary costs.
Issues with inherited property often arise during a stressful time. Families may be grieving, dealing with funeral arrangements, sorting through personal belongings, and trying to understand legal responsibilities all at once.
At the same time, real estate decisions can have long-term consequences. Selling too quickly, delaying too long, or transferring property incorrectly can affect the estate, the heirs, and the future marketability of the property.
The best time to address these issues is before family disagreements escalate, before the property is transferred, and before a title problem delays the closing of a sale.
You may want legal guidance if:
RMP Law assists Arkansas families, with experience representing personal representatives, trustees, beneficiaries, heirs and other interested persons, with probate estate and trust administration, real estate issues, and related disputes.
If you have questions about inherited property in Arkansas, contact RMP Law at 479-443-2705 or use our Message Us form.
Main RMP Number: 479-443-2705
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
DISCLAIMER: The information provided on this website does not constitute legal advice. Instead, all information, content, and materials available on this site are for general informational purposes. Information on this website may not constitute the most up-to-date legal or other information. Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter.
Main Line: 479.443.2705
Fax Line: 479.443.2718
Email: info@rmp.law
Bentonville – 479-553-9800
Jonesboro – 870-394-5200
Little Rock – 501-954-9000
JOHNSON
5519 Hackett Street, Suite 300
Springdale, AR 72762
BENTONVILLE
809 SW A Street, Suite 105
Bentonville, AR 72712
JONESBORO
710 Windover Road, Suite B
Jonesboro, AR 72401
LITTLE ROCK
17901 Chenal Parkway, Suite 200
Little Rock, AR 72223