| Last Action | 01/03/24: to Appropriations & Revenue (S) |
|---|---|
| Title | AN ACT relating to heirs property and making an appropriation therefor. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Local Mandate |
| Bill Request Number | 293 |
| Sponsor | R. Thomas |
| Summary of Original Version | Create new sections of KRS Chapter 381 to enact the Uniform Partition of Heirs Property Act; define terms, including "heirs property"; create a mechanism for partition or sale among cotenants by the court; create requirements for notice and determination of value through agreement or appraisal; create protocol for buyouts, partition alternatives, partition in kind, sale by open market, sealed bids, or auction; create the heirs property research fund; amend KRS 324B.050 to authorize the Kentucky Real Estate Authority to promulgate administrative regulations to issue grants from the fund; amend KRS 64.012 to increase the recording and indexing fee collected by county clerks by $1 and to direct those additional fees to the heirs property research fund; amend KRS 381.135 and 389A.030 to conform; APPROPRIATION. |
| Index Headings of Original Version |
County Clerks - Heirs property research fund, fee increase Deeds and Conveyances - Heirs property, partition Fees - Heirs property research fund, county clerk fee increase, recording and indexing Property - Heirs property, partition Real Estate - Heirs property, partition Uniform Laws - Uniform Partition of Heirs Property Act Administrative Regulations and Proceedings - Kentucky Real Estate Authority, heirs property research fund Appropriations - Heirs property research fund, creation Civil Actions - Heirs property, partition Civil Procedure - Heirs property, partition Short Titles and Popular Names - Uniform Partition of Heirs Property Act Local Mandate - Heirs property, partition |
| 01/02/24 |
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| 01/03/24 |
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Last updated: 9/26/2024 1:37 PM (EDT)