426.220 Redemption -- Right of -- Payment of money -- Possession of defendant.

243 words·~1 min read·/ky/chapter-426/426-220

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

(1)If land sold under execution does not bring two-thirds of its appraised value, the

defendant and his representatives may redeem it within six

(6)months from the day

of sale, by paying the purchaser or his representative the original purchase money

and ten percent per annum interest thereon. The defendant redeeming his land shall

take a receipt from the purchaser and lodge it with the clerk of the court, which

receipt shall be filed and recorded with the execution under which the sale was

made.

(2)The defendant may tender the redemption money to the purchaser or his agent or

attorney, if in the county where the land lies or in the county where the judgment

was obtained, and if the money is refused or if the purchaser does not reside in

either of the counties, the defendant may, before the expiration of six

(6)months, go

to the clerk of the court where the execution issued and make affidavit of the tender

and refusal or that the purchaser or his agent or attorney does not reside in the

county where the land lies or where the execution issued, as he believes. He may

then pay to the clerk the redemption money for the purchaser, and the clerk shall

give a receipt therefor and file the affidavit with the execution in his office.

(3)When the right of redemption exists, the defendant may remain in possession until

the right of redemption expires.