2006 Kentucky Revised Statutes - .510   Definitions for KRS 411.500 to 411.570.

411.510 Definitions for KRS 411.500 to 411.570. As used in KRS 411.500 to 411.570: (1)  "Claimant" means a person who asserts a claim of private nuisance. (2)  "Fair market value" means the price that a person who is willing but not compelled to buy would pay and a seller who is willing but not compelled to sell would accept for property. (3)  "Fair rental value" means the price a lessee who is willing but not compelled to lease would pay and a lessor who is willing but not compelled to lease would accept. (4)  "Ownership interest" means holding legal or equitable title to property in fee or in a life tenancy. (5)  "Defendant" means a person against whom a claim of private nuisance is asserted. (6)  "Possessory interest" means lawfully possessing property but does not include mere occupancy. (7)  "Property" means real property. (8)  "Value of use" means the value to a person of using property. Effective: May 24, 1991 History: Created 1991 (1st Extra. Sess.) Ky. Acts ch. 11, Sec. 2, effective May 24, 1991.