A recorded mortgage may be amended by an affidavit of amendment prepared by an attorney to correct clerical errors or omitted information. An affidavit of amendment may not change any term, dollar amount, or interest rate in the mortgage, unless signed by the mortgagor and secured party. An affidavit of amendment may not change the parties or the collateral of a recorded mortgage, but may be used to correct a manifest clerical or typographical error such as spelling, punctuation, or numbering mistakes in typing or printing. The attorney preparing the affidavit shall certify in the affidavit that notice of filing the amendment has been given to the mortgagor by mailing a copy of the amendment to the mortgagor at the address shown on the original mortgage. A subsequent release of the mortgage releases any amendments to the original mortgage.
Effective: July 15, 2016

Terms Used In Kentucky Statutes 382.297

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Attorney: means attorney-at-law. See Kentucky Statutes 446.010
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.

History: Amended 2016 Ky. Acts ch. 11, sec. 4, effective July 15, 2016. — Amended
2015 Ky. Acts ch. 65, sec. 2, effective June 24, 2015. — Created 2006 Ky. Acts ch.
183, sec. 19, effective July 12, 2006.

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