2013 Kentucky Revised Statutes CHAPTER 381 - TITLE TO PROPERTY AND RESTRICTIONS ON USE, OWNERSHIP, AND ALIENATION 381.221 Termination and preservation of forfeiture restrictions created before July 1, 1960.
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381.221 Termination and preservation of forfeiture restrictions created before
July 1, 1960.
(1)
(2)
Every possibility of reverter and right of entry created prior to July 1, 1960,
shall cease to be valid or enforceable at the expiration of thirty (30) years after
the effective date of the instrument creating it, unless before July 1, 1965, a
declaration of intention to preserve it is filed for record with the county clerk of
the county in which the real property is located.
The declaration shall be entitled "Declaration of Intention to Preserve
Restrictions on the Use of Land," and shall set forth:
(a) The name of the record owner or owners of the fee in the land against
whom the possibility of reverter or right of entry is intended to be
preserved;
(b) The names and addresses of the persons intending to preserve the
possibility of reverter or right of entry;
(c) A description of the land;
(d) The terms of the restriction;
(e) A reference to the instrument creating the possibility of reverter or right of
entry and to the place where such instrument is recorded. The declaration
shall be signed by each person named therein as intending to preserve
the possibility of reverter or right of entry and shall be acknowledged or
proved in the manner required to entitle a conveyance of real property to
be recorded. The county clerk shall record the declaration in the record of
deeds and shall index it in the general index of deeds in the same manner
as if the record owner or owners of the land were the grantor or grantors
and the persons intending to preserve the possibility of reverter or right of
entry were the grantees in a deed of conveyance. For indexing and
recording the clerk shall receive the same fees as are allowed for
indexing and recording deeds.
Effective:June 16, 1960
History: Created 1960 Ky. Acts ch. 167, sec. 6, effective June 16, 1960.
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