382.297 Requirements for amendment, renewal, modification, or extension of
594 words·~3 min read·
/ky/382-297A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
recorded mortgage -- Amendment of recorded mortgage by affidavit of
amendment -- Effect of subsequent release of original mortgage --
Construction.
(1)A county clerk shall admit to record any amendment, renewal, modification, or
extension of a recorded mortgage that complies with subsection
(2)of this section.
(2)Any amendment, renewal, modification, or extension of a recorded mortgage
admitted to record under subsection
(1)of this section shall:
(a)Be in writing;
(b)Contain:
1. The name and mailing address of each mortgagor;
2. The name and mailing address of the mortgagee;
3. The book and page number where the original mortgage is recorded;
4. A description of the amendment, renewal, modification, or extension,
which:
a. Shall be in conformity with KRS 382.330; and
b. For an extension, shall include the:
i. Time period of the extension; and
ii. Amount of indebtedness remaining due;
5. A printed, typewritten, or stamped endorsement on the instrument to be
recorded stating the name and address of the individual who prepared
the instrument, which shall be signed by the individual;
6. The address to which the recorded instrument is to be delivered as
provided in KRS 382.240; and
7. The signature of each mortgagor and the mortgagee, acknowledged
before a notary public; and
(c)Be recorded in the office of the county clerk in which the original mortgage is
located.
(a)In addition to any amendment allowed under subsection
(1)of this section, a
county clerk shall admit to record an affidavit of amendment to a recorded
mortgage that:
1. Is prepared and executed by an attorney licensed in Kentucky; and
2. Complies with this subsection.
(b)An affidavit of amendment may not change:
1. Any term, dollar amount, or interest rate in the mortgage;
2. The parties; or
3. The collateral of a recorded mortgage;
but may be used to correct a manifest clerical or typographical error such as
spelling, punctuation, or numbering mistakes in typing or printing.
(c)The attorney preparing the affidavit shall certify in the affidavit that notice of
filing the amendment has been given to each mortgagor by mailing a copy of
the amendment to the mortgagor or mortgagors at the address shown on the
original mortgage.
(4)Every amendment, renewal, modification, or extension of a recorded mortgage
admitted to record under this section shall be recorded by the county clerk in the
same manner as recordation of an original mortgage.
(5)The receipt for record and recording of any instrument by a county clerk that is not
in compliance with the provisions of this section shall not prevent the record of
filing of the instrument from becoming notice as otherwise provided by law, and
shall not impair the admissibility of the record as evidence.
(6)A subsequent release of the original mortgage releases any amendments, renewals,
modifications, or extensions admitted to record under this section.
(7)Nothing in this section shall be construed to:
(a)Affect or change the priority established under law of any recorded mortgage,
including but not limited to the priority established under KRS 382.340,
382.385, and 382.520;
(b)Create or establish:
1. A lien or other security interest; or
2. Priority in a lien or other security interest; or
(c)Require the recording of any amendment, renewal, modification, or extension
of a recorded mortgage in order:
1. To secure payment of any sums due and payable under the mortgage;
2. To secure priority of the mortgage, as amended, renewed, modified, or
extended; or
3. For the amendment, renewal, modification, or extension to be
enforceable between the parties.