273A.020 Statement of authority as to real property.

317 words·~1 min read·/ky/chapter-273a/273a-020

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

(1)An interest in real property held in the name of an unincorporated nonprofit

association may be transferred by a person authorized to do so in a statement of

authority recorded by the association in the office in the county in which a transfer

of the property would be recorded.

(2)A statement of authority shall set forth:

(a)The name of the unincorporated nonprofit association;

(b)The address in this Commonwealth, including the street address, if any, of the

association or, if the association does not have an address in this

Commonwealth, its out-of-state address;

(c)That the association is an unincorporated nonprofit association;

(d)The name and title or position of a person authorized to transfer an interest in

real property held in the name of the association; and

(e)An affirmation by the person executing the statement that they are duly

authorized to do so.

(3)A statement of authority shall be executed by a person other than the person

authorized in the statement to transfer the interest.

(4)A filing officer may collect a fee for recording a statement of authority in the

amount of ten dollars ($10).

(5)A document amending, revoking, or canceling a statement of authority or stating

that the statement is unauthorized or erroneous shall meet the requirements for

executing and recording an original statement.

(6)Unless canceled earlier, a recorded statement of authority and its most recent

amendment expire five

(5)years after the date of the most recent recording.

(7)If the record title to real property is in the name of an unincorporated nonprofit

association and the statement of authority is recorded in the office of the county in

which a transfer of the property would be recorded, the authority of the person

named in the statement to transfer is conclusive in favor of a person that gives value

without notice that the person lacks authority.