(1) The deed of assignment shall be acknowledged by the assignor in the same manner as other deeds and shall be recorded in the county clerk’s office of the county where the assignor resides, where the business in respect to which the deed is made is carried on, and in each county where a tract of land or the greater part thereof conveyed by the deed is situated.
(2) The deed shall vest in the assignee title to all the property, real and personal, with all deeds, books and papers relating thereto belonging to the assignor at the time of making the assignment, except property exempt by law which shall not pass unless embraced in the deed. The intent of the assignor in making the assignment, whether appearing upon the face of the deed or otherwise, shall not invalidate the deed, unless he is solvent and it appears that the assignment was made to hinder or delay creditors.

Terms Used In Kentucky Statutes 379.020

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Oath: A promise to tell the truth.

(3) The assignor shall, within five (5) days from the day upon which the deed is lodged for record, file for record in the county where the assignee qualifies a schedule under oath, setting forth the general nature and full value of the property assigned, together with a list of his creditors, their post office address, the amount due each and whether secured by lien or not.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 75.