Opinion No.

The Honorable Paul Miller State Senator Post Office Box 488 Melbourne, AR 72556-0488

Dear Senator Miller:

I am writing in response to your request for my opinion on the following questions:

1. Does Act 2284 [of 2005] become applicable only when real property "changes hands" or ownership[?] In other words, does Act 2284 only become applicable in traditional" buy/sell" property transactions when revenue stamps are issued?

2. Does Act 2284 become applicable when, for instance, a parent deeds to a child a parcel of property, reserving a life estate, but revenue stamps are not issued in such…