Kentucky Statutes 273.140 – Sale of property held for charity for reinvestment
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Upon petition in equity stating the necessity of such action, if it will not violate any reservation or limitation in any dedication or grant, the Circuit Court of the county in which real property is held for a religious society or other charity may direct a sale of the property to reinvest the proceeds in the same county and for the same general purposes.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 324.
Effective: October 1, 1942
Terms Used In Kentucky Statutes 273.140
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Violate: includes failure to comply with. See Kentucky Statutes 446.010
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 324.