2013 Kentucky Revised Statutes CHAPTER 91 - FINANCE AND REVENUE OF CITIES OF THE FIRST CLASS 91.514 Vesting title in purchases -- Title subject to designated liens -- Exceptions.
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91.514 Vesting title in purchases -- Title subject to designated liens -Exceptions.
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Upon the confirmation of the sale by the court and the expiration of the right of
redemption provided in KRS 91.511, the title to any real estate purchased from
the master commissioner pursuant to KRS 91.481 to 91.527 shall vest in the
purchaser. The title of the real estate shall be an absolute estate in fee simple,
subject to rights-of-way of public utilities on which tax has been otherwise paid
and subject to any right of redemption of the United States of America, if any.
All persons, including the Commonwealth of Kentucky, infants, incompetents,
absentees, and nonresidents who may have had any right, title, interest, claim
or equity of redemption in or to, or lien upon the land shall be barred of all right,
title, interest, claim, lien or equity of redemption, and the court shall order that
immediate possession of the real estate be given to the purchaser. Any person
so barred shall thereafter have as his exclusive remedy a claim for a share of
the proceeds of the sale of the real estate by the master commissioner.
The title shall be subject to the liens of any tax bill which may have attached to
the parcel of real estate prior to the time of the filing of the petition affecting the
parcel of real estate not then delinquent, or which may have attached after the
filing of the petition and prior to the expiration of the period provided for
redemption and not including any answer to such petition.
If the parcel of real estate is sold to the city or to a land bank authority created
pursuant to KRS 65.350 to 65.375, the title shall be free of any liens to the
extent of the interest of any taxing authority in any such real estate.
The title shall not be subject to the lien of special tax bills which have attached
to the parcel of real estate but the lien of the special tax bill shall attach to the
proceeds of the master commissioner's sale or to the proceeds of the ultimate
sale of the parcel by the city.
Failure of any party other than the purchaser to follow the procedures set out in
KRS 91.484 to 91.527 shall not affect the vesting of title in the purchaser.
Effective:July 14, 1992
History: Amended 1992 Ky. Acts ch. 314, sec. 4, effective July 14, 1992. -Amended 1988 Ky. Acts ch. 91, sec. 2, effective July 15, 1988. -- Amended
1982 Ky. Acts ch. 409, sec. 10, effective July 15, 1982. -- Created 1980 Ky. Acts
ch. 47, sec. 11, effective July 15, 1980.
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