381.130 Exceptions to KRS 381.120.

286 words·~1 min read·/ky/chapter-381/381-130

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

(1)KRS 381.120 shall not apply to any estate which joint tenants hold as executors or

trustees, nor, except as provided in subsection

(2)of this section, to an estate

conveyed or devised to persons in their own right, when it manifestly appears, from

the tenor of the instrument, that it was intended that the part of the one dying should

belong to the others, neither shall it affect the mode of proceeding on any joint

contract or judgment.

(a)1. Except as provided in paragraph

(b)of this subsection, one

(1)or more

joint tenants of real property may partition their interest in the real

property during their lifetime by deed or other instrument.

2. The deed or other instrument shall express the intent of the joint tenant

to partition the joint tenant's interest in the real property and shall be

recorded at the office of the county clerk in the county where the real

property or any portion of the real property is located.

3. The partitioning shall be effective at the time the deed or other

instrument is recorded.

(b)Residential real property that is owned exclusively by husband and wife as

joint tenants with a right of survivorship and actually occupied by them as a

principal residence shall not be partitioned as provided in paragraph

(a)of this

subsection.

(c)The deed or other instrument shall convert the partitioning joint tenant's

interest in the real property into a tenancy in common with the remaining joint

tenants. If there are two

(2)or more nonpartitioning joint tenants, the interests

of the nonpartitioning joint tenants in relation to each other shall be governed

pursuant to the terms of the instrument creating the interest.