Kentucky Statutes 379.090 – Sale of property by assignee
Current as of: 2024 | Check for updates
|
Other versions
(1) Personal property conveyed by the deed of assignment shall be sold by the assignee at private or public sale as the court may direct, and the assignee may pass title as fully as the assignor could have done at the date of the assignment.
(2) Real property, when sold at public sale, shall be sold in the same manner and upon the same terms as real property sold at decretal sale. However, the purchaser may pay and the assignee accept cash in payment of the purchase price, and the court may make any order it deems proper concerning the advertisement of the sale. The assignee may convey and pass all the right and title which the grantor in the deed of assignment had at its date.
(3) The report of sale shall be filed by the assignee within ten (10) days after the sale, and if no exceptions are filed thereto within sixty (60) days after it has been filed, the report shall be confirmed. If exceptions are filed, they shall be heard by the court and disposed of.
Effective: January 2, 1978
History: Amended 1976 (1st Extra. Sess.) Ky. Acts ch. 14, sec. 296, effective January
2, 1978. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from
Ky. Stat. sec. 87.
(2) Real property, when sold at public sale, shall be sold in the same manner and upon the same terms as real property sold at decretal sale. However, the purchaser may pay and the assignee accept cash in payment of the purchase price, and the court may make any order it deems proper concerning the advertisement of the sale. The assignee may convey and pass all the right and title which the grantor in the deed of assignment had at its date.
Terms Used In Kentucky Statutes 379.090
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Grantor: The person who establishes a trust and places property into it.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(3) The report of sale shall be filed by the assignee within ten (10) days after the sale, and if no exceptions are filed thereto within sixty (60) days after it has been filed, the report shall be confirmed. If exceptions are filed, they shall be heard by the court and disposed of.
Effective: January 2, 1978
History: Amended 1976 (1st Extra. Sess.) Ky. Acts ch. 14, sec. 296, effective January
2, 1978. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from
Ky. Stat. sec. 87.