426.530 Right of redemption -- Manner of redeeming -- Purchaser to receive writ

201 words·~1 min read·/ky/426-530

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

of possession and deed.

(1)If real property sold in pursuance of a judgment or order of a court, other than an

execution, does not bring two-thirds (2/3) of its appraised value, the defendant and

his or her representatives may redeem it within six

(6)months from the day of sale,

by paying the original purchase money and ten percent (10%) per annum interest

thereon, and any reasonable costs incurred by the purchaser after the sale for

maintenance or repair of the property, including but not limited to utility expenses,

insurance, association fees, taxes, and the costs to conform the property to the

minimum standards of local nuisance code provisions and other local ordinances as

authorized in KRS 65.8801 to 65.8839.

(2)The defendant shall pay the redemption money to the clerk of the court in which the

judgment was rendered or the order of sale was made. Upon payment by the

defendant, the master commissioner shall convey the real property to the defendant.

(3)When the right of redemption exists, the purchaser shall receive an immediate writ

of possession and a deed containing a lien in favor of the defendant, reflecting the

defendant's right to redeem during the statutory period.