2014 Kentucky Revised Statutes CHAPTER 381 - TITLE TO PROPERTY AND RESTRICTIONS ON USE, OWNERSHIP, AND ALIENATION 381.9195 Other liens affecting the condominium.
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381.9195 Other liens affecting the condominium.
(1)
(2)
(3)
(4)
Except as provided in subsection (2) of this section, a judgment for money
against the association, if recorded, shall not be a lien on the common
elements but shall be a lien in favor of the judgment lienholder against all of the
units in the condominium at the time the judgment was entered. No other
property of a unit owner shall be subject to the claims of creditors of the
association.
If the association has granted a lien or security interest in the common
elements to a creditor of the association pursuant to KRS 381.9185, the holder
of that lien or security interest shall exercise its right against the common
elements before its judgment lien on any unit may be enforced.
Whether perfected before or after the creation of the condominium, if a lien
other than a mortgage, including a judgment lien or lien securing the obligation
to pay for work performed or materials supplied before creation of the
condominium, becomes effective against two (2) or more units, the unit owner
of an affected unit may pay to the lienholder the amount of the lien attributable
to his or her unit, and the lienholder, upon receipt of payment, shall promptly
deliver a release of the lien covering that unit. The amount of the payment shall
be proportionate to the ratio which that unit owner's common expense liability
bears to the common expense liabilities of all unit owners whose units are
subject to the lien. After payment, the association shall not assess or have a
lien against that unit owner's unit for any portion of the common expenses
incurred in connection with that lien.
A judgment against the association shall be indexed in the name of the
condominium and the association and, when so indexed, shall be notice of the
lien against the units.
Effective:January 1, 2011
History: Created 2010 Ky. Acts ch. 97, sec. 48, effective January 1, 2011.
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