2006 Kentucky Revised Statutes - .050   Loan of personal property with possession for five years or reservation -- Effect in absence of recorded evidence or will.

378.050 Loan of personal property with possession for five years or reservation -- Effect in absence of recorded evidence or will. Where any loan of personal property is pretended to have been made to any person with whom, or those claiming under him, possession has remained for five (5) years without demand made and pursued by due process of law on the part of the pretended lender, or where any reservation or limitation by way of condition, reversion, remainder or otherwise is pretended to have been made in the alienation of the property so possessed, the absolute right shall be deemed to be with the possession in favor of a purchaser without notice, or any creditor, of the person remaining in possession, unless the written evidence of the loan, reservation or limitation is duly recorded in the county where the person resides before possession is taken, or is contained in a properly recorded will. Effective: October 1, 1942 History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 1909.