Kentucky Statutes 376.140 – Lien on gas, oil or other mineral leasehold — Provisions governing such a lien
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(1) Any person who performs labor or furnishes materials, supplies, fixtures, machinery or other things of value to a lessee holding or owning a leasehold, or any right conferred by a lease, relating to oil, gas or other minerals, in the development or improvement of the leasehold, by contract with or by the written consent of the owner or the agent or representative of the owner of the leasehold, shall have a lien on the leasehold or the entire interest of the lessee including oil or gas wells, machinery and equipment, to secure the payment for the labor or things furnished. If the labor or things are furnished at the written request or by the written consent of any contractor or subcontractor, or the agent of either, the lien herein given shall be for the benefit of whoever may furnish any of the labor or things mentioned. The lien herein provided for shall be effective against the leasehold, or the entire interest of the lessee therein, including all improvements thereon belonging to the lessee.
(2) If the lessee claims by executory contract, and if for any cause, the contract shall be rescinded or set aside, the lien provided for in subsection (1) of this section shall follow the leasehold into the hands of the person to whom the same may go, or with whom it may remain by reason of the rescission. If by the rescission the interest covered by the lease becomes vested in the lessor, the interest so covered by the lease shall be subject to said lien. If the lessee should be evicted from the possession of the leasehold by the judgment of a court, the lien shall nevertheless be effective against the leasehold and the improvements placed thereon by the lessee or those under whom he claims, while he or they were in possession thereof. If the lease expires or is forfeited, or the lessee in any other way loses his rights thereunder, the lien provided for shall nevertheless be effective against the leasehold, whoever may be the owner thereof, to the extent of the interest held by the lessee at the time the labor was performed or the things mentioned furnished, and this shall be true although the interest of the lessee may revert to the lessor. The lienholder may elect to remove any improvements from the premises if it can be done without material injury to any previous improvements on the leasehold, and when the election is made and improvement is removed the owner of the leasehold shall be given credit by the value of the improvements so removed and the lien-holder may enforce his lien to the extent of any balance remaining unpaid.
(3) The provisions of KRS § 376.010 and KRS § 376.080 to KRS § 376.130 shall apply to the lien provided for in subsection (1) of this section. When necessary for the purposes of such application, “owner” shall be construed to mean “lessee” and “property” to mean “leasehold.”
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2479a-1, 2479a-2, 2479a-3, 2479a-4, 2479a-5, 2479a-6, 2479a-7.
(2) If the lessee claims by executory contract, and if for any cause, the contract shall be rescinded or set aside, the lien provided for in subsection (1) of this section shall follow the leasehold into the hands of the person to whom the same may go, or with whom it may remain by reason of the rescission. If by the rescission the interest covered by the lease becomes vested in the lessor, the interest so covered by the lease shall be subject to said lien. If the lessee should be evicted from the possession of the leasehold by the judgment of a court, the lien shall nevertheless be effective against the leasehold and the improvements placed thereon by the lessee or those under whom he claims, while he or they were in possession thereof. If the lease expires or is forfeited, or the lessee in any other way loses his rights thereunder, the lien provided for shall nevertheless be effective against the leasehold, whoever may be the owner thereof, to the extent of the interest held by the lessee at the time the labor was performed or the things mentioned furnished, and this shall be true although the interest of the lessee may revert to the lessor. The lienholder may elect to remove any improvements from the premises if it can be done without material injury to any previous improvements on the leasehold, and when the election is made and improvement is removed the owner of the leasehold shall be given credit by the value of the improvements so removed and the lien-holder may enforce his lien to the extent of any balance remaining unpaid.
Terms Used In Kentucky Statutes 376.140
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
(3) The provisions of KRS § 376.010 and KRS § 376.080 to KRS § 376.130 shall apply to the lien provided for in subsection (1) of this section. When necessary for the purposes of such application, “owner” shall be construed to mean “lessee” and “property” to mean “leasehold.”
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2479a-1, 2479a-2, 2479a-3, 2479a-4, 2479a-5, 2479a-6, 2479a-7.