Kentucky Senate Bill 54

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 2 2024 - 25% progression
Action: 2024-01-03 - to Appropriations & Revenue (S)
Pending: Senate Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]

Create new sections of KRS Chapter 381 to enact the Uniform Partition of Heirs Property Act; define terms, including "heirs property"; create a mechanism for partition or sale among cotenants by the court; create requirements for notice and determination of value through agreement or appraisal; create protocol for buyouts, partition alternatives, partition in kind, sale by open market, sealed bids, or auction; create the heirs property research fund; amend KRS 324B.050 to authorize the Kentucky Real Estate Authority to promulgate administrative regulations to issue grants from the fund; amend KRS 64.012 to increase the recording and indexing fee collected by county clerks by $1 and to direct those additional fees to the heirs property research fund; amend KRS 381.135 and 389A.030 to conform; APPROPRIATION.

AN ACT relating to heirs property and making an appropriation therefor.

Sen. Reginald Thomas [D]

Date	Chamber	Action
2024-01-03	Senate	to Appropriations & Revenue (S)
2024-01-02	Senate	to Committee on Committees (S)
2024-01-02	Senate	introduced in Senate

Type	Source
Summary	https://apps.legislature.ky.gov/record/24RS/sb54.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/24RS/sb54/orig_bill.pdf
Supplement	https://apps.legislature.ky.gov/recorddocuments/note/24RS/sb54/LM.pdf