2011 Kentucky Revised Statutes
CHAPTER 389A FIDUCIAL AND JUDICIAL SALES OF REAL ESTATE
389A.020 Limitation on power of fiduciary to sell or mortgage property -- Circuit clerk may alter.
389A.020 Limitation on power of fiduciary to sell or mortgage property -- Circuit
clerk may alter.
In the event the power of a fiduciary to sell or mortgage any real estate is expressly
limited by the will or trust instrument under which he is acting, such limitation may only
be altered or amended by the Circuit Court of the county wherein the fiduciary was
appointed, or if the fiduciary is acting under an agreement of trust without court
supervision, the county in which the trust is or could be registered, in an action brought
by the fiduciary in which all persons having a present or contingent interest in the
property interest sought to be sold or mortgaged or its proceeds are made parties. Before
adjudging that the fiduciary may deviate from the terms of the will or trust the court shall
determine that there exist circumstances apparently unknown to the testator or settlor; that
such circumstances would substantially impair the accomplishment of the purposes
intended; and that deviation is in the best interests of all parties concerned.
Effective: July 15, 1982
History: Amended 1982 Ky. Acts ch. 277, sec. 5, effective July 15, 1982. -- Created
1980 Ky. Acts ch. 87, sec. 4, effective July 15, 1980.
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