Kentucky Statutes 382.295 – Recording master form for mortgages — Incorporation by reference of contents
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(1) An instrument containing forms of covenants, conditions, obligations, powers, and other clauses of a mortgage may be recorded in the county clerk’s office of any county, and the county clerk of such county, upon the request of any person, on tender of the lawful fees therefor, shall record the same. Every such instrument shall be entitled on the face thereof as a “Master form recorded by …. (name of person causing the instrument to be recorded).” The instrument need not be acknowledged to be entitled to record.
(2) When any such instrument is recorded, the county clerk shall index the instrument under the name of the person causing it to be recorded in the manner provided for miscellaneous instruments relating to real estate.
(3) After the form mentioned in subsection (1) of this section is recorded, any of the provisions of such master form instrument may be incorporated by reference in any mortgage of real estate situated within this state, if the reference in the mortgage states that the master form instrument was recorded in the county in which the mortgage is offered for record and states the date when and the book and page or pages where the master form instrument was recorded. The recording of any mortgage which has so incorporated by reference therein any of the provisions of a master form instrument recorded as provided in this section shall have like effect as if the provisions of the master form so incorporated by reference had been set forth fully in the mortgage.
History: Created 1970 Ky. Acts ch. 88, secs. 1-3.
(2) When any such instrument is recorded, the county clerk shall index the instrument under the name of the person causing it to be recorded in the manner provided for miscellaneous instruments relating to real estate.
Terms Used In Kentucky Statutes 382.295
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) After the form mentioned in subsection (1) of this section is recorded, any of the provisions of such master form instrument may be incorporated by reference in any mortgage of real estate situated within this state, if the reference in the mortgage states that the master form instrument was recorded in the county in which the mortgage is offered for record and states the date when and the book and page or pages where the master form instrument was recorded. The recording of any mortgage which has so incorporated by reference therein any of the provisions of a master form instrument recorded as provided in this section shall have like effect as if the provisions of the master form so incorporated by reference had been set forth fully in the mortgage.
History: Created 1970 Ky. Acts ch. 88, secs. 1-3.