Kentucky Statutes 426.715 – Lien on realty as security for purchase money — Release
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A lien shall exist on real property sold under an order of court, as security for the purchase money; and, upon payment thereof the clerk shall release the lien on the margin of the record of the deed in the office of the county clerk, or at the option of the county clerk, in a marginal entry record kept for the same purpose. Each entry in the marginal entry record shall be linked to its respective referenced instrument in the indexing system for the referenced instrument.
Effective: July 15, 1982
History: Amended 1982 Ky. Acts ch. 323, sec. 5, effective July 15, 1982. — Amended
1978 Ky. Acts ch. 384, sec. 529, effective June 17, 1978. — Transferred 1952 Ky. Acts ch. 84, sec. 1, effective July 1, 1953, from C.C. sec. 699.
Effective: July 15, 1982
Terms Used In Kentucky Statutes 426.715
- 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.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
History: Amended 1982 Ky. Acts ch. 323, sec. 5, effective July 15, 1982. — Amended
1978 Ky. Acts ch. 384, sec. 529, effective June 17, 1978. — Transferred 1952 Ky. Acts ch. 84, sec. 1, effective July 1, 1953, from C.C. sec. 699.